- Digital asset investment products saw another week of inflows following a week that marked the end of an 11-week entry and a $33 million outflow from Bitcoin.
- Bitcoin recorded an inflow of $87.6 million and increased inflows in recent weeks. Short-term Bitcoin saw an inflow of $0.4 million.
- Solana, experiencing an inflow of $6 million in a week and $20.1 million since the beginning of the month, ranked third among altcoins.
According to the latest report from CoinShares, investments from institutional investors recorded a significant amount last week.
Investments Increased Despite the Consolidation in Bitcoin
According to the latest report from CoinShares, digital asset investment products saw another week of inflows following a week that marked the end of an 11-week entry and a $33 million outflow from Bitcoin. This brought a positive sentiment to the crypto market ahead of the potential approval of the spot Bitcoin ETF in early January.
James Butterfill, the Head of Research at CoinShares, announced on December 25th that there was an entry of $103 million into crypto asset funds weekly. This is a significant development for the crypto market with the potential approval of the spot Bitcoin ETF around the corner. The SEC met with several spot Bitcoin ETF issuers last week.
Bitcoin recorded an inflow of $87.6 million and increased inflows in recent weeks. Short-term Bitcoin also saw an inflow of $0.4 million and recorded an inflow of $12.5 million since the beginning of the month. Despite some doubts about the decision on the spot Bitcoin ETF, new advertisements for Bitcoin ETFs by Bitwise and Hashdex brought money back to the market.
In addition, Ethereum saw an inflow of $7.9 million, indicating better investment fundamentals and high demand for staking returns. Solana, experiencing an inflow of $6 million in a week and $20.1 million since the beginning of the month, ranked third among altcoins.
However, Cardano’s inflows decreased to only $1 million, while Avalanche, Litecoin, and XRP recorded outflows as investors turned to other crypto assets. Germany, Canada, the United States, Switzerland, and Brazil were the countries directing inflows into crypto asset funds.
What is the current status of the Bitcoin price?
The BTC price is currently trading at $42,620, within a volatile range over the last 24 hours. The 24-hour low and high values are $42,552 and $43,827, respectively. The ETH price is currently trading at $2,231, with a 2% decrease in the last 24 hours. The trading volume has slightly decreased over the last 24 hours.
