Cryptocurrency Influx Defies Global Political Strife, Surges by $1.9 Billion: CoinShares Recount
Headline: Institutional Investors Pour Over $13 Billion into Crypto in Nine Weeks: Report
HodlX Digest
Welcome back to the world of digital assets! Today, we're diving into an exciting development in the crypto sphere. Institutional investors have been generously pouring their capital into digital assets, with a staggering $13 billion invested in just the past nine weeks.
This phenomenal trend was revealed in a recent report from global investment firm, CoinShares. The report highlights that last week's inflows surpassed those of previous weeks, despite escalating geopolitical tensions, demonstrating the resilience of digital assets together with gold.
“Digital asset investment products reported massive inflows of $1.9 billion last week, marking the ninth consecutive week of inflows. This brings the total inflows during this run to $12.9 billion, with year-to-date inflows reaching a record-breaking $13.2 billion."
It's no secret that the US is leading the pack, with $1.9 billion in inflows. Close behind are Germany, Switzerland, and Canada, with $39.2 million, $20.7 million, and $12.1 million in inflows, respectively. Unfortunately, Hong Kong and Brazil endured outflows of $56.8 million and $8.5 million, respectively.
Following two consecutive weeks of outflows, Bitcoin is back on top with $1.3 billion in inflows. On an impressive eight-week streak, Ethereum has gained $2 billion, with a recent addition of $583 million.
It's not just Bitcoin and Ethereum! Following a three-week run of outflows, XRP saw inflows of $11.8 million, while Sui witnessed an additional $3.5 million in inflows.
This bullish trend among institutional investors is unlikely to slow down anytime soon. Keep your eyes peeled for more updates as the crypto market continues to evolve and grow! 📈
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Cryptocurrency investments have seen a significant surge, with institutional investors pouring over $13 billion into digital assets in just nine weeks. This bullish trend has boosted investments not only in Bitcoin and Ethereum, but also in altcoins like XRP and Sui, demonstrating the growing interest in the blockchain and finance sector.
