Crypto investment products witness $1.2 billion inflow as monetary policy expectations linger

📆 30/09/2024 20:26:00
📰 FXStreetNews

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Bitcoin News

Ethereum,Cryptocurrencies,Solana

CoinShares' weekly report on Monday indicates that digital asset investment products recorded inflows totaling $1.2 billion last week after the Securities & Exchange Commission (SEC) approved options trading for Bitcoin ETFs.

Digital asset products recorded inflows totaling $1.2 billion last week, marking a third consecutive week of positive flows. Bitcoin ETFs witnessed the highest inflows, totaling $1 billion, as BTC supply in profit remained above 80%. Ethereum ETFs recorded inflows of $87 million despite varying sentiment among altcoins last week. CoinShares' weekly report on Monday indicates that digital asset investment products recorded inflows totaling $1.

He further adds that the growth may be due to bulls leveraging exchanges for trades trading as opposed to on-chain, over-the-counter trading among bears. Furthermore, Bitcoin's supply in profit remains above 80%, which historically signals a bull cycle, per SignalQuant via CryptoQuant. BTC Supply in Profit Altcoins experienced varying sentiment last week, with global Ethereum products recording inflows of $87 million after five weeks of net outflows that date back to August.

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