Institutional Investors Exiting Bitcoin (BTC) Bought These Altcoins!

Bitcoin: Digital asset investment products saw a total inflow of $15 million last week. In addition, AuM rose to $36.2 billion from the previous year’s low. Bitcoin saw small outflows of $1.7 million. Inflows to Short Bitcoin amounted to $ 6.3 million last week. Meanwhile, Ethereum received a total of $7.6 million in inflows for the third week in a row. Bitcoin (BTC) price and detailed market data from here you can see.

Crypto investment products saw net inflows

The cryptocurrency market continues to fluctuate back and forth in harsh winter conditions. The leading crypto Bitcoin is trying to hold above $ 20 thousand. The broader market, on the other hand, is struggling to hedge sharp declines.

In this environment, crypto-asset investment products saw a total inflow of $15 million last week. In addition, AuM rose to $36.2 billion from the previous year’s low.

Attracted US and Canadian funds on a regional basis

Regionally, there was a total of $8.2 million in US exchanges. 76% of the mentioned entries come from short positions. Canada saw a total inflow of $7.1 million, while Switzerland attracted $1.9 million in funding.

BTC

Additionally, 21Shares and ProShares received inflows of $4 billion and $8.2 billion respectively from the funds. CoinShares XBT and 3iQ saw $2 billion in output.

BTC

Bitcoin sees slight exit, short Bitcoin gains entry

Leading crypto Bitcoin saw small outflows of $ 1.7 million. However, short Bitcoin entries totaled $6.3 million last week. On the other hand, short position entries are starting to cool. The recent spike in Bitcoin prices has caused AuM to drop $127 million from $140 million last week.

Ethereum and Cardano saw entry while Bitcoin (BTC) exited funds

Meanwhile, Ethereum saw a total of $7.6 million in inflows for the third week in a row. The entries show a modest return in sentiment endured by 11 consecutive weeks of exits bringing 2022 exits to a high of $460 million.

bitcoin

This improvement in responsiveness is likely due to Ethereum’s efforts to transition from Proof of Work (PoW) to Proof of Stake (PoS). AmkNews.comAs you follow, Ethereum Merge is expected to take place later this year. Since this development is very important for Ethereum, it affects the mood positively.

There were small inflows totaling $2.2 million in multi-asset investment products. The broader altcoin market has been remarkably dormant so far this month. In this direction, there were small outflows totaling 0.3 million dollars. Apart from Ethereum, Cardano (ADA) from altcoins managed to attract $ 0.1 million in funds.

Disclaimer: The articles and articles on AmkNews do not constitute investment advice. AmkNews.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. For this reason, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.