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Recent data from CoinShares has revealed some exciting trends in the crypto market. In the past week alone, net inflows into crypto funds reached a substantial $1.05 billion, marking a significant increase from the previous week’s $932 million. Bitcoin investments saw a massive surge of $1.01 billion, while Ethereum and Solana also experienced gains of $36 million and $8 million, respectively.
But that’s not all – cumulative ETF investments for the year have soared to a record-breaking $14.9 billion, with total assets under management (AuM) of crypto funds reaching an impressive $98.5 billion. Weekly trading volumes have also seen a notable 28% increase, now totaling $13.6 billion. CoinShares has attributed this positive sentiment to investors interpreting recent macroeconomic data and FOMC minutes as slightly dovish.
One interesting development highlighted by MicroStrategy founder Michael Saylor is the rise of cryptocurrency ETFs holding over 1 million BTC, equivalent to approximately $70 billion and representing 5% of all asset issuance. The largest ETF, Grayscale’s GBTC, boasts $20 billion in AuM, closely followed by BlackRock’s IBIT.
In other news, medical technology specialist Semler Scientific recently announced the purchase of 581 BTCs worth $40 million, citing BTCs as the Treasury’s primary reserve asset due to their reliability as a store of value and attractive investment. Following this announcement, Semler Scientific shares experienced a substantial 28% jump.
And finally, billionaire investor George Soros’ fund made a bold move in the first quarter, investing $159 million (2% of assets) into shares of MicroStrategy, a company known for accumulating bitcoins.
Stay tuned for more insightful articles and updates on the ever-evolving world of cryptocurrency investments, only at Extreme Investor Network. Don’t miss out – join our community of extreme investors today!