Cryptocurrency ETFs saw inflows of $1.1 billion last week, a seven-week high.
KobeissiLetter released a market analysis stating that cryptocurrency ETFs are making a comeback. Last week, cryptocurrency funds recorded an inflow of 1.1 billion USD, reaching a new high in 7 weeks, marking a reversal from the previous 4 consecutive weeks of a total outflow of 4.7 billion USD. The US cryptocurrency ETFs led with an inflow of 994 million USD, followed by Canada (98 million USD) and Switzerland (24 million USD), while Germany saw an outflow of 57 million USD.
Bitcoin led the inflows with a net inflow of 461 million USD, followed by ETH with a net inflow of 308 million USD. Meanwhile, investors withdrew 1.9 billion USD from Bitcoin short ETPs. The upward momentum of cryptocurrencies is returning.
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