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Reading: Bitcoin Leads Significant Inflows in Cryptocurrency Investments
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COINTURK NEWS > Cryptocurrency News > Bitcoin Leads Significant Inflows in Cryptocurrency Investments
Cryptocurrency News

Bitcoin Leads Significant Inflows in Cryptocurrency Investments

In Brief

  • Bitcoin attracted $419 million, becoming the primary focus for investors.

  • Ethereum saw a $9.8 million outflow, indicating market variability.

  • Blockchain stock ETFs gained significant attention with a $34 million inflow.

İlayda Peker
İlayda Peker 7 months ago
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CoinShares reported a robust inflow of $407 million into cryptocurrency investment products for the week ending October 14. During this period, Bitcoin (BTC) $102,931 demonstrated substantial gains, while short Bitcoin investment products saw outflows. Notably, the impact of political developments in the United States on these investments was more pronounced than that of monetary policies.

Contents
Bitcoin Emerges as the Leading InflowStrong Interest in Blockchain Stock ETFs

Bitcoin Emerges as the Leading Inflow

According to the report, Bitcoin emerged as the biggest beneficiary of political changes, attracting a total inflow of $419 million. Investors believe that the upcoming elections in the U.S. and the rise of Republicans will positively affect cryptocurrencies. In contrast, short Bitcoin investment products faced a $6.3 million outflow.

Ethereum (ETH) $2,182 also entered a rebound trend, recording an outflow of $9.8 million last week. This indicates a divergence in short-term expectations within the markets.

Solana $161 (SOL), XRP (XRP), and Tron (TRX) experienced inflows of $600,000, $1.1 million, and $100,000, respectively. Meanwhile, multi-asset investment products continued their inflow streak for the 17th consecutive week, though the total amount remained limited at $1.5 million.

Strong Interest in Blockchain Stock ETFs

Significant investment also flowed into blockchain-based stock ETFs, with a total weekly inflow of $34 million. This marked one of the largest weeks of the year for these ETFs. Experts noted that the recent rise in Bitcoin’s price has heightened interest in these products.

The United States accounted for a substantial portion of these investments, with $406 million of the total inflow coming from there, while Canada attracted only $4.8 million. This trend reveals that during periods of political uncertainty, investors view cryptocurrencies as a safe haven.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 14 October, 2024 - 2:03 pm 14 October, 2024 - 2:03 pm
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