Crypto investment products see largest weekly inflow since July 2022

CoinShares analysts attributed the reversal to increasing activity from exchange-traded product issuers in the exchange-traded fund space:

“We believe this renewed positive sentiment is due to recent announcements from high profile ETP issuers that have filed for physically backed ETFs with the US Securities & Exchange Commission.”on June 23, Bitcoin reached a 2023 high of $31,431 last week — movement that was largely attributed to institutional interest in ETFs, with both BlackRock and Fidelity Investments filing for spot Bitcoin ETFs in June.

While the uptick in Bitcoin inflows managed to have a small knock-on effect for Ether — inflows increased to $7.8 million — there was no sign of follow-through for altcoins, which saw little to no positive movement outside of trickling inflows for

These rallies come after Bitcoin dropped below $25,000 in June for the first time since mid-March after the United States Securities and Exchange Commission leveled separate lawsuits against Binance and Coinbase alleging improprieties.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration – Finance Bitcoin NewsA subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France.
Source: BTCTN - 🏆 531. / 51 Read more »

Crypto Companies in Japan Get Tax Relief Under Revised Rules – Taxes Bitcoin NewsThe tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules.
Source: BTCTN - 🏆 531. / 51 Read more »