๐๐ฐ Crypto Funds See $224M in Weekly Inflows โ Ethereum Takes the Spotlight! ๐ฅ๐ฅ
According to the latest data from CoinShares, digital asset investment products attracted $224 million in inflows last week, marking the 7th straight week of positive momentum! ๐ That brings the total inflows during this period to a massive $11 billion ๐ธ
๐ Ethereum Steals the Show While Bitcoin Slips
Even though the pace of inflows has slowed down as investors tread carefully ahead of the US Fed's next move ๐๏ธ, Ethereum led the charge with a whopping $296.4 million in inflows โ its best week since the 2024 US elections ๐ณ๏ธโจ
Over the past 7 weeks, ETH has racked up $1.5 billion in total inflows, now representing 10.5% of all assets under management (AUM). Thatโs a major comeback for the worldโs second-biggest crypto ๐ช๐ฃ
Meanwhile, Bitcoin didnโt fare so well, seeing $56.5 million in outflows for the second week in a row โ๐. Even short-Bitcoin products experienced minor outflows, signaling a drop in bearish bets as traders await clarity on inflation and interest rate trends ๐๐ต๏ธโโ๏ธ
๐ช Altcoins: Mixed Bag
SUI: +$1.1 million โ
XRP: -$6.6 million โ (3rd week of outflows)
๐ Regional Breakdown of Inflows
United States: +$175 million
Germany: +$47.8 million
Switzerland: +$15.7 million
Canada: +$9.8 million
Australia: +$6.5 million
On the flip side:
Brazil: -$9.2 million
Hong Kong: -$14.6 million (a sharp reversal after record inflows)
๐ง Whatโs Going On?
The slowdown in new money entering the market reflects growing investor caution ๐ as everyone waits to see what the Federal Reserve will do next regarding interest rates and inflation
Despite the uncertainty, analysts say Ethereumโs surge shows renewed confidence โ but the wider crypto market may remain in limbo until thereโs more clarity on the macroeconomic front ๐#BTC #bitcoin