Solana

United

Chainlink

Gold

Billion

Digital asset investment products experienced a record-breaking week, with $3.13 billion in inflows, pushing total investments since mid-September – the start of US interest rate cuts – to $15.2 billion.
According to CoinShares, year-to-date inflows have soared to $37 billion, thereby setting a new milestone and outshining the initial success of US Gold ETFs, which attracted only $309 million in their first year. Bitcoin ETFs continued to shine, with the largest inflows on record last week.
With Bitcoin prices climbing to new heights and <a href="https://cryptopotato.com/the-battle-for-100k-depends-on-these-bitcoin-addresses-itb/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">edging</a> closer to $100k, the cryptocurrency saw $3 billion in inflows, highlighting strong investor demand. However, this bullish momentum was accompanied by a notable uptick in short-Bitcoin investments, which saw $10 million in weekly inflows. Over the month, inflows into short-Bitcoin products reached $58 million, representing the highest monthly total since August 2022.
In its latest <a href="https://blog.coinshares.com/volume-210-digital-asset-fund-flows-weekly-report-1e294c6b2c70" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">report</a>, CoinShares revealed that Solana led the altcoin pack last week with $16 million in inflows, far surpassing Ethereum’s $2.8 million, though it continues to trail the latter’s year-to-date performance.
Meanwhile, XRP, Litecoin, and Chainlink each saw significant inflows, reaching $15 million, $4.1 million, and $1.3 million, respectively.&nbsp;Cardano, too, garnered a modest inflow of $0.7 million during the same period.
In contrast, multi-asset investment products suffered outflows for the second week in a row, with a total of $10.5 million exiting the market.
While the United States recorded $3.2 billion in inflows, profit-taking activities in Sweden, Germany, and Switzerland led to outflows of $84 million, $40 million, and $17 million, respectively, following recent price surges. Brazil also experienced a significant outflow of $12.5 billion, further dampening the global picture.
However, Canada, Hong Kong, and Australia offered a silver lining, drawing inflows of $31 million, $30 million, and $9 million as market sentiment turned positive in these regions.
The post <a href="https://cryptopotato.com/bitcoin-attracts-3-billion-weekly-inflows-as-prices-neared-100k-milestone/" rel="noopener noreferrer nofollow">Bitcoin Attracts $3 Billion Weekly Inflows as Prices Neared $100K Milestone</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Attracts $3 Billion Weekly Inflows as Prices Neared $100K Milestone

CryptoPotato_News

Other articles published on Nov 25, 2024

XRP Ledger (XRPL) Hosts First Ripple-Backed Tokenized Fund

Metaplanet Leads Bitcoin Adoption in Japan with New Magazine Launch

Cantor’s Howard Lutnick prepares to leave all companies, passes Tether deal to his son

ZA Bank Launches Retail Crypto Trading in Hong Kong, Offering Bitcoin and Ethereum in USD and HKD

Bitcoin price slips to $93K as liquidations soar and long-term BTC holders take profit

TON Hacker House Bangkok Draws 300+ Global Developers and 70+ Demo Submissions, Highlight the TON...

Join our free newsletter for daily crypto updates!