Cryptocurrency investment products saw minor outflows over the past week as investors became seemingly hesitant on the market ahead of Bitcoin’s upcoming halving event, while volume rose from $17 billion to $21 billion, and various altcoins saw significant inflows.
According to CoinShares’latest I-Digital Asset Fund Iyageleza report, investment products offering exposure to the flagship cryptocurrency Bitcoin ($BTC) saw outflows of $110 million over the past week, with its month-to-date flows remaining positive at $555 million. Products betting against BTC saw $1.7 million of inflows.
Similarly, Ethereum suffered $29 million of outflows in its fifth consecutive week of outflows, while its competitor Solana – which suffered significant congestion issues earlier this month – saw $3.6 million of outflows.
The report, however, details that various altcoins that often don’t get a lot of attention saw significant inflows. Decentraland’s $MANA, the native token of a metaverse platform, and Brave’s Basic Attention Token ($BAT) both saw significant inflows of$4.9 million and $2.9 million respectively.
Lido’s native token $LDO, meanwhile, saw $1.8 million of inflows. Despite these flows, spot Bitcoin exchange-traded funds (ETFs) in the United States have maintained an outsized impact on the cryptocurrency investment product market.
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As CryptoGlobe reported, data shows that inflwos into these products reached $91.3 million on April 11, led by BlackRock’s iShares Bitcoin Trust (IBIT), whose total net inflows now top $15 billion.
Ngokusho kwedatha eyabiwe yi-BitMEX Research, indawo ye-BitMEX ETF enikezwa umphathi wempahla enkulu kunazo zonke emhlabeni yabona ukungena okubalulekile kwezigidi ezingu-192.1 zamaRandi ngo-Ephreli 11, imali engenayo enkulu kunazo zonke kusukela ngo-April 5. Lesi sikhwama sinesilinganiso sokungena nsuku zonke kwezigidi ezingu-240.4 zamaRandi kusukela saba okokuqala kwethulwa.
I-Valkyrie's Bitcoin Strategy ETF (BRRR) iphinde yabona ukungena okuhle, ithola amaRandi ayizigidi ezingu-8.4 ngoLwesine, okuphawula ukungena kwayo kwansuku zonke okukhulu kakhulu kusukela ngo-March 26 futhi ilethe imali engenayo isiyonke ibe yi-$467.5 million.
Ingqikithi yokungena kwe-Bitcoin ETFs yehliswe yi-GBTC yakwaGreyscale, ehlangabezane nokuphuma okuphelele kwezigidi ezingu-124.9 zamaRandi, okulethe ukuphuma kwayo okuphelele ku-$16.1 billion. Lesi sikhwama, nokho, sisabambe i-BTC engu-311,664 emangalisayo njengoba besesivele siyisikhwama esikhulu kunazo zonke se-Bitcoin ngaphambi kokuba siguqulwe saba yi-ETF yendawo.
I-IBIT kaBlacRock, uma kuqhathaniswa, ubambe 270,978 BTC ngemva kokubhalisa ukungena okubalulekile kusukela kwethulwa.
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- Source: https://www.cryptoglobe.com/latest/2024/04/altcoins-shine-mana-bat-ldo-see-large-inflows-despite-bitcoins-jitters/
