Compass Investments

Crypto vs. Dollar

📌 Mr. Solana led the interest in altcoins via fund.

Cryptoinvestment products recorded inflows of US$130 million last week, with Solana (SOL) leading the way among institutional altcoin investments with an investment of US$5.9 million. According to management company CoinShares, this is the first weekly inflow into crypto funds in five weeks. Bitcoin

– Cryptoinvestment products recorded inflows of US$130 million last week, with Solana (SOL) leading the way among institutional altcoin investments with an investment of US$5.9 million. According to management company CoinShares, this is the first weekly inflow into crypto funds in five weeks.

In particular, bitcoin saw $144 million in inflows, recovering from a disappointing month. At the same time, bitcoin-based short exchange-traded products (ETPs) experienced outflows of US$5.1 million, bringing total outflows for the eight-week period to US$18 million.

Minor involvement by the U.S. regulator in reviewing ETF issuers’ applications for Ethereum ETFs has led to speculation that authorization may not be forthcoming. This sentiment was reflected in the US$14 million in fund outflows seen last week.

The US was dominated by inflows of US$135 million, the lowest weekly gray scale outflow since January, when it was US$171 million. Switzerland also saw inflows of US$14 million. In contrast, inflows in Hong Kong slowed to US$19 million from the previous week’s record high, indicating that the initial surge following the launch of the bitcoin-ETF may have been mostly seed capital.

Canada and Germany followed with outflows of US$20 million and US$15 million respectively, bringing the total outflows this year to US$660 million.

Bitcoin

Bitcoin

$69,036.86

BTC 0.21%

Ethereum

Ethereum

$3,741.10

ETH 0.86%

Binance Coin

Binance Coin

$601.79

BNB 0.31%

XRP

XRP

$0.54

XRP 1.29%

Dogecoin

Dogecoin

$0.17

DOGE 2.64%

Cardano

Cardano

$0.46

ADA -0.05%

Solana

Solana

$166.89

SOL -0.99%