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Home»ALTCOIN NEWS»$3,124,000,000 hits Bitcoin ETF with record weekly inflows: CoinShares
ALTCOIN NEWS

$3,124,000,000 hits Bitcoin ETF with record weekly inflows: CoinShares

By Crypto FlexsNovember 26, 20242 Mins Read
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,124,000,000 hits Bitcoin ETF with record weekly inflows: CoinShares
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Digital asset manager CoinShares said institutional investors invested more than $3 billion in cryptocurrency products last week.

Latest Digital Asset Fund Flows reportInstitutional cryptocurrency investment products surged in net inflows of $3.13 billion last week, setting a new inflow record, according to CoinShares.

“Digital asset investment products recorded record weekly inflows totaling $3.13 billion, bringing total inflows to $15.2 billion since mid-September when interest rates were first cut in the US. Annual inflows now stand at a record $37 billion, driven primarily by Bitcoin, far surpassing the debut of the US gold ETF, which attracted just $309 million in its first year.”

Source: CoinShares

The United States ranked first globally with regional inflows of $3.2 billion. Germany, Sweden and Switzerland reduced inflows, totaling $141 million in outflows.

“More positive sentiment was seen in Australia, Canada and Hong Kong, with inflows of US$9 million, US$31 million and US$30 million respectively.”

Bitcoin (BTC) accounted for the largest share of revenue at $3 billion. Solana (SOL) surpassed rival smart contract platform Ethereum (ETH) with inflows of $16 million compared to ETH’s $2.8 million. XRP, Litecoin (LTC), and Chainlink (LINK) recorded $15 million, $4.1 million, and $1.3 million, respectively, while multi-asset vehicles that invest in more than one cryptocurrency brought in $10.5 million. . .

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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