While Bitcoin, the leading cryptocurrency, is trying to recover after falling to $ 64,000 over the weekend as a result of the correction it experienced, Coinshares published its weekly cryptocurrency report.
Stating that it experienced $2.9 billion inflows into cryptocurrency investment products last week, Coinshares said that the inflows continued and another record was broken.
“Cryptocurrency investment products saw record weekly inflows totaling $2.9 billion, surpassing the previous week's all-time record of $2.7 billion.
“This week's inflows increased year-to-date inflows to $13.2 billion, surpassing all of 2021's $10.6 billion inflows.”
When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.
BTC experienced inflows of $2.89 billion, representing over 95% of all inflows, while the largest altcoin, Ethereum (ETH), saw outflows of $13.9 million.
In the Bitcoin Short fund, which is indexed to the decline of BTC, the inflows increased compared to last week, and there was an inflow of 26.1 million dollars.
When we look at other altcoins, Litecoin (LTC) experienced an inflow of $2.3 million, Polkadot (DOT) $3.1 million, and Cardano (ADA) $1.2 million; Solana (SOL) experienced a $2.7 million outflow.
“Bitcoin saw inflows of $2.86 billion last week, now accounting for 97% of all inflows year-to-date. The Short Bitcoin fund saw its largest inflow in a year, totaling $26 million, for the 5th week in a row.
The smart contract ran into trouble last week; Ethereum, Solana, and Polygon saw outflows of $14 million, $2.7 million, and $6.8 million, respectively.”
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 2.95 billion dollars.
After the USA, Brazil ranked second with 23.7 million dollars.
Against these inflows, Switzerland received 32.6 million dollars; Sweden $21.2 million; Canada experienced an outflow of 14.9 million dollars.
*This is not investment advice.