Report Unveiled Weekly Inflows into Crypto ETPs, for Second Week in a Row
According to data from CoinShares, the largest inflow into crypto funds since July was recorded last week for the second consecutive week, now totaling $78 million with ETP trading volume rising 37% to $1.13 billion for the week. In the last week of September alone, CoinShares saw net positive inflows into the cryptocurrency market for the first time in 6 weeks, totaling $21 million, while the week before that saw outflows totaling $9 million.
So, inflows into cryptocurrency investment products from September 30 to October 6 totaled $78 million. Bitcoin trading volumes in the first week of October also increased by 16%. And this is against the backdrop of the fact that historically, Q3 of a year is considered the low season for Bitcoin. Typically, BTC investment returns drop during the summer months, then reach their lowest in September, and begin to recover in October.
Among the most significant events that served as additional catalysts for the inflow of cryptoinvestors' funds, the report mentioned the launch of Ethereum futures ETFs, which lured about $10 million in the first week alone. Also, the inflow of funds into Solana during the week was the largest since March 2022 and amounted to about $24 million. At the same time, Solana continues to establish itself as the most popular altcoin. Since the beginning of this year, the token's price has risen nearly 122%, more than double that of Bitcoin at around 60%.
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