Welcome to Extreme Investor Network, where we bring you the latest insights and updates on all things related to the Stock Market, trading, and Wall Street. Today, we delve into the world of crypto fund investments and how they have been making significant strides in the past week.
According to the latest data from CoinShares, crypto fund investments surged by $1.439 billion last week, following inflows of $441 million the previous week. This marked the second consecutive week of growth and was the fifth-largest weekly inflow on record. Investments in Bitcoin saw a rise of $1.347 billion, while Ethereum and Solana also experienced inflows of $72 million and $4 million, respectively. Notably, Ethereum witnessed its largest inflows since March, potentially due to the anticipation of the approval of spot ETH ETFs in the US.
Despite the positive investment trends, CoinShares highlighted that the weekly trading volume remained low at $8.9 billion, significantly below this year’s average of $21 billion. This could indicate that investors are holding onto their positions rather than actively trading.
In other crypto news, BlackRock CEO Larry Fink made a statement affirming Bitcoin as a legitimate financial instrument to invest in, especially during times of heightened fear. Fink highlighted that BTC offers a way to invest in something outside the control of any country, emphasizing its value as a diversification asset.
Furthermore, data from IntoTheBlock revealed that Bitcoin miners added $71,000 BTC to their wallets last week despite falling prices. CryptoQuant also noted that the 30-day coin accumulation rate was the highest since April 2023. Additionally, Santiment observed a reduction in long positions by retail traders, which is expected to support the long-term bullish trend in the crypto market.
Stay tuned to Extreme Investor Network for more exclusive insights and updates on the latest trends in the Stock Market, trading strategies, and everything related to Wall Street. Join us as we navigate the world of investments and help you make informed decisions to maximize your financial growth.