Traditional investors continue to bet big on crypto despite recent market drawdown

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 18 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Cryptocurrencies News

Bitcoin,Ethereum

CoinShares’ report on Monday showed that crypto ETFs experienced over $1.44 billion in net inflows last week as most traditional investors saw the market drawdown as a potential buy-the-dip opportunity.

CoinShares' weekly report revealed that digital asset investment products saw inflows of $1.44 billion last week. Bitcoin saw its fifth largest weekly inflows, totaling $1.35 billion. Ethereum saw inflows of $72 million, its highest since March. Crypto investment products record $1.44 billion in inflows Digital asset investment products witnessed increased buying pressure in the past week as inflows across crypto ETFs reached $1.44 billion.

5 million, Canada with $24.2 million and Germany with $11.7 million. Bitcoin recorded its fifth-highest weekly inflow, dominating the global crypto investment market with $1.35 billion. Meanwhile, short-bitcoin recorded outflows of $8.6 million, its highest since April. This indicates the increased bullish sentiment from crypto ETF investors.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinSharesJamie Crawley is a CoinDesk news reporter based in London.
Source: CoinDesk - 🏆 291. / 63 Read more »