Inflow of $2.7 Billion into US Spot Crypto Funds 🔥
Inflow of $2.7 Billion into US Spot Crypto Funds 🔥
Context
US spot crypto funds saw net inflows of about $2.7 billion over the past week
The largest purchases were related to Bitcoin and Ethereum
BlackRock recorded the highest purchase volume
Focus
🧐 Buying 28,610 Bitcoin is equivalent to 64 days of mined supply
💡 Inflow of $1.92 billion into Bitcoin funds and $697 million into Ethereum
🔥 BlackRock bought nearly 19,720 Bitcoin and 278,360 Ethereum
Implications
Institutional demand for Bitcoin and Ethereum remains strong
Buying pressure can support prices
Minor outflow from the Binance Coin fund is a sign of a slight capital rotation
Conclusion
Strong institutional inflow continues to remain the market's driving engine 😅
#spot_fund #Bitcoin #Ethereum #capital_inflow
Context
US spot crypto funds saw net inflows of about $2.7 billion over the past week
The largest purchases were related to Bitcoin and Ethereum
BlackRock recorded the highest purchase volume
Focus
🧐 Buying 28,610 Bitcoin is equivalent to 64 days of mined supply
💡 Inflow of $1.92 billion into Bitcoin funds and $697 million into Ethereum
🔥 BlackRock bought nearly 19,720 Bitcoin and 278,360 Ethereum
Implications
Institutional demand for Bitcoin and Ethereum remains strong
Buying pressure can support prices
Minor outflow from the Binance Coin fund is a sign of a slight capital rotation
Conclusion
Strong institutional inflow continues to remain the market's driving engine 😅
#spot_fund #Bitcoin #Ethereum #capital_inflow
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