Digital investment products record $644 million inflows
\nThis breaks a five-week streak that coincided with massive bearish sentiment
\nBitcoin investiment products saw $724 million, while Ethereum continued lower with $86 million in outflows<\/p>\n
Crypto investments products have snapped a five-week outflow streak, with the market seeing $644 million in inflows last week.<\/p>\n
This comes as Bitcoin breaks above $87k and most altcoins record some slight gains to start the week on a positive note.<\/p>\n
According to James Butterfill, head of research at digital asset manager CoinShares, the digital asset investment products market flipped positive last week. The analyst pointed to the $644 million in inflows as having broken a five-week negative streak.<\/p>\n
The turnaround follows a tough stretch for digital asset investment products, which endured $6.4 billion in outflows over the past five weeks.<\/p>\n
As CoinJournal highlighted<\/a>, the negative flows\u00a0 marked the worst run on record, with 17 straight days of downside. Largely, this resulted from the bearish sentiment and macroeconomic pressures that had BTC nosediving below $80k and altcoins in deep red<\/p>\n \u201cNotably, every day last week recorded inflows, following a 17-day consecutive run of outflows \u2014 signalling a decisive shift in sentiment toward the asset class,\u201d Butterfill wrote in a report<\/a>.<\/p>\n In its report, CoinShares says the US accounted for the bulk of the inflows, contributing $657 million. Switzerland chipped in with $13.5 million, though Germany saw a slight $8.8 million dip. Meanwhile,<\/p>\n As total assets under management across the crypto investment products space witnessed a 6.3% bump to $134 billion, Bitcoin bounced with over $724 million in inflows.<\/p>\n Bitcoin price has also recorded a 5% surge in the past week to see analysts forecast a potential surge to $100k again.<\/p>\n Spot exchange-traded funds were a key driver last week, QCP noted<\/a>.<\/p>\n The rest of the market has XRP seeing a notable $6.7 million in inflows last week, which points to the positive news the cryptocurrency enjoyed.<\/p>\n Solana also flipped positive with over $6.4 million in inflows in the past week.\u00a0However, Ethereum bucked the trend as digital asset investment products tied to the top altcoin shed $86 million.<\/p>\n Other altcoins to record notable outflows were Sui with $1.3 million, Polkadot also with $1.3 million and Tron +950k. Algorand also joined the altcoins with outflows over the past week as investors pulled $820,000 from related products.<\/p>\n The post Crypto sees $644m inflows to break 5-week outflow streak<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Digital investment products record $644 million inflows This breaks a five-week streak that coincided with massive bearish sentiment Bitcoin investiment products saw $724 million, while Ethereum continued lower with $86 million in outflows Crypto investments products have snapped a five-week outflow streak, with the market seeing $644 million in inflows last week. This comes as […]<\/p>\n","protected":false},"author":0,"featured_media":2771,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-2770","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2770"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2771"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin leads with $724 million in inflows<\/h2>\n