Bitcoin has experienced its fifth-largest week of inflows ever, helping it regain the $60,000 mark, while Ether saw significant inflows in anticipation of US Ether ETFs.
Inflows into digital asset investment products have reached a new record of over $17.8 billion so far this year, suggesting the beginning of a possible recovery in the crypto market.
This record follows a notable $1.44 billion in inflows into cryptocurrency investment products just last week.
Data shows that year-to-date inflows for 2024 have now hit $17.8 billion, surpassing the previous record of $10.6 billion set in 2021.
Most of these inflows have come from investors in the United States, with Switzerland also making significant purchases of digital assets. The data highlights:
“The US led with $1.3 billion in inflows for the week, but positive sentiment was also evident in other regions, particularly Switzerland, which saw a record for the year in inflows, along with Hong Kong and Canada, which contributed $58 million and $55 million, respectively.”
Summary Review: The substantial inflows into Bitcoin and Ether reflect growing investor confidence and the potential for a broader recovery in the cryptocurrency market. With record-setting inflows and strong contributions from the US, Switzerland, Hong Kong, and Canada, the current trend suggests that digital assets are gaining increasing traction among global investors. As the market continues to evolve, these developments could signal a promising future for cryptocurrencies.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
