US Bitcoin ETFs see record $17B in net inflows

The consistent inflows into Bitcoin spot ETFs signal a robust and growing demand for regulated Bitcoin investment vehicles.

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Will Bitcoin benefit from a European Central Bank rate cut?

The ECB is widely anticipated to implement a 0.25% rate cut this week, following seven consecutive months of inflation easing across the eurozone.

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Crypto inflows hit $2B in June, Ethereum sees best week since March with $69M

CoinShares believes the turnaround is due to weaker than expected macro data in the U.S.

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Grayscale Bitcoin ETF nullifies $66.9M inflows in 2 days

Grayscales Bitcoin ETF saw substantial investment outflows that surpassed the $66.9 million it had attracted just a few days earlier.

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$9 Billion Floods Into Crypto Market in One Week Bull Run Confirmed?

The crypto market has witnessed about $9 billion inflows in one week, and investors are feeling optimistic, hinting at a new bull run

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Bitcoin Inflows Suggest Institutional Investors Are Moving Back Into The Market

Bitcoin and the crypto market at large had suffered outflows that coincided with the massive sell-offs that rocked the market. This contributed to the downtrend that saw bitcoin touch towards six-month lows while investors who had gotten into the market later suffered massive losses. This outflow trend is beginning to reverse so as bitcoin and other digital assets begin to record inflows after a long drought. Bitcoin Inflows Back Up The past week for bitcoin has been an encouraging one. The digital asset is nowhere near its previous highs but had managed to recover from its recent lows. It had run up to $38,000 once again, reinstating some level of faith back in the market. On the institutional investors’ side, this trend, albeit a bit slower, is the same as investors begin to gradually move back into the cryptocurrency. Related Reading | Bitcoin Funding Rates Remain Negative For More Than A Week In the latest CoinShares report, we see that bitcoin has begun to record market inflows once more. This is a deviation from the end of 2021 and the beginning of 2022 where outflows reached record highs. Greatly impacted by the minutes released by the Fed, bitcoin alone had recorded outflows to the tune of $107 million in a single week, setting a new record. BTC recovers from market crash | Source: BTCUSD on TradingView.com However, in the past two weeks, the tide is turning towards inflows as CoinShares reported the first week of inflows after massive outflows. This past week continues to mirror this trend as inflows have continued. Inflows to bitcoin were reported to total $22 million for last week. A small number compared to what had become the norm by the third quarter of 2021, but a reassuring figure nonetheless. It’s a step up from last week when BTC’s total AuM crashed to a six-month low of $29 billion. Altcoins Continue To Suffer Altcoins have not mirrored this movement of bitcoin this time around. Instead, altcoins continue to bear the brunt of the market onslaught as outflows continue to be the order of the day. Leading altcoin Ethereum has now marked its 8th consecutive week of inflows. In this time period, the altcoin has seen a total of $272 million flow out of the week, marking some of the highest negative sentiment towards the digital asset. Related Reading | The Uber Rich Investors Are Picking This Altcoin Over Bitcoin Other altcoins like Cardano, Solana, and Polkadot, which are fast-becoming investor favorites, did not fare well for the week either. All of these digital assets saw another week of outflows. Multi-asset funds and Blockchain equity investment products deviated from the performance of altcoins. Following in the footsteps of bitcoin, each of them recorded inflows for the week, $32 million for multi-asset funds, and $15 million for Blockchain equity investment products. Featured image from Bitcoin News, chart from TradingView.com

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Bitcoin, Solana Take Center Stage In $721 Million In Institutional Inflows

According to a CoinShares report, Bitcoin and Solana led the way in the amount of institutional inflows into digital asset investment products last week. The report also highlighted an emerging trend among Spot Bitcoin ETFs in the US.  Bitcoin Records $703 Million In Inflows Bitcoin is reported to have seen inflows totaling $703 million last week, thereby accounting for 99% of all flows into these investment products. Solana came in a distant second with an inflow of $13 million, outperforming the second-largest crypto token, Ethereum, which saw an inflow of $6.4 million.  Related Reading: Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits The spotlight was on Spot Bitcoin ETFs in the US, with these funds seeing an inflow of $721 million last week. These new ETFs are said to have now averaged $1.9 billion in inflows over the last four weeks, bringing their total inflows to $7.7 billion since launch. Meanwhile, Grayscales GBTC has contributed largely to the $6 billion that these funds have recorded as outflows so far.  CoinShares noted that these outflows have slowed in recent weeks, suggesting that GBTC investors have cooled off on taking profits. The inflows recorded by other Spot Bitcoin ETFs have also been able to overshadow GBTCs outflows. NewsBTC had also recently reported how BlackRocks IBIT had surpassed GBTC in trading volume for the first time.  A Drop In Trading Volume Last week was a relatively slow week for digital asset investment products in terms of trading volume. The report highlighted how trading volumes in ETPs (Exchange Traded Products) fell to $8.2 billion compared to the prior weeks total of $10.6 billion. This drop in trading volume was well evident in the figures that the Spot Bitcoin ETFs recorded last week.  Related Reading: Crypto Analyst Says ADA Price Will Rise To $8, Heres When Notably, these funds recorded a daily trading volume of $924 million on February 1 last week, the first time that the trading volume was under $1 billion. This trend continued the next day, with the Spot Bitcoin ETFs combined recording $922 million in trading volume.  Bloomberg analyst Eric Balchunas, however, suggested that there was no need to be alarmed. He noted in an X (formerly Twitter) post how there is usually a slow decline after a big, hyped launch. What is, however, evident is the fact that these funds have lived up to the hype so far. BlackRock and Fidelity alone (the top two issuers by AuM, excluding Grayscale) now hold over 134,358 BTC ($5.7 billion) for their Spot Bitcoin ETFs.  Interestingly, their funds also made the top 10 of all ETF inflows in January. This shows an impressive interest in the funds and that institutional adoption of the flagship crypto token is on the rise.  BTC bears beat down price to $42,700 | Source: BTCUSD on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com

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Play-to-earn games are ushering in the next generation of platforms

The online gaming industry has been on the rise for the past few years and for a good reason. From a global pandemic pushing an online revolution to the ever-increasing mobile and internet penetration, more people are spending more time online.  It is no wonder the industry is big money, raking in over $20 billion in revenue for 2020 alone. With an estimated 1 billion online gamers currently active worldwide, experts forecast growth in numbers reaching a whopping 1.3 billion active gamers by 2025. The numbers speak for themselves. Gamers are so enthusiastic about their favorite games, that some spend

The post Play-to-earn games are ushering in the next generation of platforms first appeared on CurrencyCrypt.

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Bitcoin ETFs hit new record with over $3.1B in weekly inflows

CoinShares data showed that spot Bitcoin ETFs recorded $3.12 billion in inflows from Nov. 1822. 

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