The cryptocurrency market may not move much in terms of price, but the interest of investors does not slow down. Even if the situation remains relatively calm, the funds continue to flock to digital assets – in particular Bitcoin. Last week alone, $ 1.04 billion was invested in the Crypto Stock Exchange (FT) products, with Bitcoin in mind. This marks twelve consecutive weeks of positive net entries, showing that confidence in the wider market remains strong.
In short
- $ 1.04 billion was invested in ETP Crypto last week, marking 12 consecutive weeks of positive entries.
- Bitcoin led with $ 790 million in ETP entries, representing 76 % of the total entries in ETP Crypto last week.
- Total assets under management in Crypto investment products reached a record of $ 188 billion last week.
- ETP Ethereum have gained $ 226 million, marking 11 consecutive weeks of entries and growing interest in investors.
Bitcoin dominates the entries, but the momentum slows down
Bitcoin attracted the majority of investments from last week, with $ 790 million added to its negotiated products on the stock market. Although it is a healthy figure, it is down compared to the previous three weeks, which have recorded average weekly entries of $ 1.5 billion. Nevertheless, Bitcoin represented 76 % of the total incoming flows last week.
James Butterfill, research manager at Coinshares, believes that this slowdown could mean that investors become a little more cautious. With Bitcoin close to its historical heights, some traders could take a break to reassess before making greater movements.
Ethereum records an increasing demand for institutions
While Bitcoin continues to dominate the entries, Ethereum also has a constant interest. Its negotiated fellowship products recorded $ 226 million in entries last week, marking the eleventh consecutive week of positive movement.
Over this period, total flows to ETP Ethereum reached $ 2.85 billion, showing that the attention of investors widens beyond bitcoin.
Ethereum entries increase more quickly compared to the size of its funds compared to those of Bitcoin. Weekly flows now represent 1.6 % of assets under management of Ethereum – or double the rate of 0.8 % bitcoin. This change indicates an increasing interest in the potential of Ethereum and the broader role that he could play in the crypto universe.
ETF ETHEREUM ETHE show a similar force. Glassnode reported that these ETFs recorded eight consecutive weeks of net entries, with more than 61,000 ETH added during this period.
Institutional movements and global activity
The wider market for digital assets also showed its solidity last week. Total assets under management in Crypto investment products have reached a new record of $ 188 billion. This milestone was supported by both market price increases and by regular capital flows.
The volume of exchanges remained solid, with $ 16.3 billion recorded last week. This corresponds to the average recorded this year so far. The United States has led to $ 1 billion in entries, despite the market closure on Friday for the independence party.
Germany and Switzerland have also shown growth, attracting $ 38.5 million respectively and $ 33.7 million. On the other hand, Canada and Brazil have recorded outings of $ 29.3 million and $ 9.7 million, showing a mixed feeling of investors depending on the region.
Institutional interest continues to grow. Blackrock's Crypto Funds alone attracted $ 436 million last week. This represents 42 % of all entries from fundraising, showing how large players weigh on the current market.
Bitcoin retains a key level despite the drop in volumes; Ethereum gets ahead in terms of yields
The price of bitcoin remains solid above a key level, arousing optimism despite lower trading volumes. Meanwhile, Ethereum is getting ahead with stronger yields this quarter, signaling a change in dynamics.
Here is a quick overview of the key points behind these figures:
- Bitcoin remains above its trend line, signaling a continuous upward force before a possible break.
- At the same time, the Bitcoin Spot volume fell to $ 5.02 billion, its lowest level in 12 months, according to Glassnod data.
- The volume of term contracts also decreases to $ 31.2 billion, showing a decreased activity despite the rise in prices.
- In the third quarter so far, Ethereum has an increase of more than 3 %, while Bitcoin has a delay with just over 1 % of earnings.
- A portfolio linked to Grayscale filed 2,070 ETH (USD 5.27 million) on Coinbase Prime, indicating a strong institutional activity.
- This performance discrepancy could point out an increasing change in institutional attention to Ethereum.
The interest seems to be gradually moving to Ethereum, even if Bitcoin still retains its domination. If Ethereum entries continue to grow, a significant rebound could be looming on the horizon, potentially boosting other altcoins.
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