Black_background_logo_BitcoinWorld-removebg-preview
Funds
Latest News

Despite the imminent battle, $89 million is flowing into Bitcoin funds, but ETH funds are in the red

Over the previous week, institutional traders poured about $89 million into Bitcoin (BTC) funds, despite a market-wide sell-off in major crypto assets. However, the money men were unsuccessful in banning Ethereum (ETH) investment products, which resulted in $15.2 million in withdrawals.

Despite the fact that Bitcoin network activity was down 30% from its ATH levels three months ago, digital gold appears to be the asset of choice for skilled investors lately.

BTC funds have now received a total of $178.3 million this month, according to CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, following the latest $89 million flood between Feb. 14 and Feb. 18.

In comparison, Ether investment products have seen total withdrawals of $2.6 million so far in February, with only one week of inflows in the last 11 weeks.

BTC’s price has plummeted 14.6 percent in the last seven days to over $38,000. So, Ether’s price has dropped 16.2 percent to $2,668 at the time of writing. Cardano (ADA), Solana (SOL), and Ripple (XRP) are among the top assets that have lost double digits.

Despite “price weakness and the expected negative impact of the coming crisis in Eastern Europe,”

digital asset investment products in general had inflows of $109 last week, according to CoinShares.

Aside from Bitcoin’s domination, institutional investors bought $25 million worth of Avalanche-related financial products. So, while multi-asset and Solana funds received $9.4 million and $1.2 million, respectively.
Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.