The cryptocurrency market has seen a significant increase today, with its value surpassing the $41,000 mark. This surge coincides with significant inflows into crypto investment products, reaching new highs since the launch of a US futures-based exchange-traded fund (ETF) in October 2021.
Investors moved a record $176 million into these products over the past week. Bitcoin leads with an impressive inflow of $132.8 million, signaling strong investor confidence. Ethereum continues its upward trend for the fifth consecutive week, adding $30.8 million.
Other cryptocurrencies such as Solana and Cardano saw modest gains. However, Litecoin bucked the positive trend and faced capital outflows. In a notable turnaround, the Bitcoin Short fund reversed a three-week streak of outflows by attracting $3.6 million, showing a shift in investor sentiment towards betting on the market. school.
Cash flows are not evenly distributed globally. Canada emerged as the leader with inflows worth $79 million, followed by Germany with $56.9 million and the United States closely behind with $53.5 million.
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