Global Crypto Funds Inflows Reach $1.2 Billion
Crypto investment products managed by firms like BlackRock and Fidelity reported $1.24 billion in net inflows globally, marking a streak of ten consecutive weeks. This brings the total to $14.1 billion, with year-to-date figures hitting a record $15.1 billion. However, inflows slowed later in the week, possibly due to U.S. holidays and geopolitical tensions. Bitcoin products alone attracted $1.1 billion, despite a price dip, indicating strong buying interest. Ethereum funds also saw consistent inflows, totaling $2.2 billion. The U.S. led with $1.25 billion, but outflows were noted in Hong Kong and Switzerland. Despite short-term volatility, structural demand for Bitcoin and Ethereum remains robust, suggesting potential for recovery.
FAQ
❓ What caused the inflow of $1.2 billion into crypto funds?
Strong investor sentiment, particularly in Bitcoin and Ethereum, amid geopolitical tensions, drove the inflows.
❓ Which regions led the crypto fund inflows?
The U.S. led with $1.25 billion, while Hong Kong and Switzerland experienced outflows.