Bitcoin, Ethereum and XRP Drive $1.18 Billion in Inflows to Crypto Funds
Bitcoin, Ethereum, and The week led to the inflow of crypto funds. CoinShares head of research James Butterfill said it failed to break all-time highs.
Massive Bitcoin Inflow into Crypto Funds
According to CoinShares’ weekly report dated January 15, crypto asset investment products saw inflows of $1.18 billion (based on T+2 settlement). Despite the massive spot Bitcoin ETF excitement, it failed to break the $1.5 billion record for futures-based Bitcoin ETFs in October. 2021.
However, transaction volumes of crypto funds reached a record level, reaching $17.5 billion last week. The average weekly transaction volume is 2 billion dollars.
Bitcoin saved $1.16 billion Inflows representing 3% of total assets under management. Short-bitcoin also saw inflows of $4.1 million, with inflows of $3.2 million since the beginning of the month. While experts were skeptical of spot Bitcoin ETFs despite bringing money into the market, experts expected spot Bitcoin ETFs to generate a long-term profit.
Ethereum also saw entry $26 million It points to better investment fundamentals and higher demand for staking returns. I saw XRP $2.2. million The inflow in one week and the inflow of $3.1 million month-to-date is the largest among altcoins.
However, inflows into Cardano and solana dropped to only $1.4 million and $0.5 million. Altcoins such as Avalanche and Polkadot also only recorded inflows as investors looked to other crypto assets.
Last week, the USA saw an inflow of 1.24 billion dollars, while Switzerland saw an inflow of 21 million dollars. Significant crypto asset fund outflows were recorded in Germany, Canada and Sweden.
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Crypto Performance Today
BTC price is down 1% in the last 24 hours and the price is currently trading at $42,592. Additionally, the 40% increase in trading volume in the last 24 hours shows that investors’ interest has increased.
Unlike Bitcoin, Ethereum saw its prices rise above $2500. ETH price is currently trading at $2,537; The last 24-hour low and high are $2,470 and $2,545 respectively.
XRP price increased by 1% in the last 24 hours and the price is currently trading at $0.57. The 24-hour low and high are $0.574 and $0.592 respectively. Additionally, transaction volume increased by 90% in the last 24 hours.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with CoinGape Media. He currently covers the latest updates and developments in the crypto industry.
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