Institutions Pour $921,000,000 Into Crypto Assets in One Week, With Bitcoin, XRP and Solana Leading the Charge
Institutional investors just bought an overall total of $921 million in crypto assets in the last week, according to a new update from Coinshares.
The surge marks a rebound after multiple choppy weeks, driven by better investor confidence from lower-than-expected US CPI data and hopes for more rate cuts.
Bitcoin led the charge with $931 million in inflows, pushing its year-to-date total to $30.2 billion.
Since the U.S. Federal Reserve started cutting rates, Bitcoin has seen $9.4 billion in cumulative inflows.
Ethereum bucked the trend with $169 million in outflows, its first in five weeks, despite strong demand for leveraged products.
Solana and XRP inflows cooled to $29.4 million and $84.3 million, respectively, ahead of expected U.S. ETF launches.
Regionally, the US dominated with $843 million in inflows, while Germany hit a record $502 million.
Switzerland saw $359 million in outflows, mainly from asset transfers between providers.
Global ETP trading volumes reached $39 billion, exceeding the year-to-date average of $28 billion.
Featured Image: Shutterstock/petrov-k
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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