Crypto Fund Inflows Hit Record $1.5B as Bitcoin Futures ETFs Go Live

Written By Guest User

Bitcoin dominated this week’s inflows, with a 99% share. Last week, bitcoin’s weekly inflows were at $70 million. Read the full article by: Lyllah Ledesma

Key Points:

  • Last week investors more than doubled the previous weekly high of crypto inflows from February this year when they put $1.47 Billion of new money into the market. The previous all time high was $640 million.

  • “This is a direct result of the U.S. Securities and Exchange Commission (SEC) allowing a bitcoin ETF investing in futures and the consequent listing of two bitcoin investment products,” said a report by CoinShares.

  • This all stems from the excitement of the first Bitcoin ETFs that hit the stock market last week as well. With the news of the first BTC ETF it also sent Bitcoins price to a new all time high of $66,974.

  • The Coin Shares report also showed “minor profit-taking” as ETH focused funds saw their third straight week of outflows. Last week totaled about $1.4 million in outflows.

Guest User
Previous

For $200, You Can Trade Crypto With a Fake ID
Next

Ethereum Continues its Consolidation Pattern