The inflow of funds into cryptocurrency investment products from August 5 to 11 amounted to $28.5 million against an outflow of $107 million a week earlier. This assessment was made by CoinShares analysts.
Negative dynamics was observed for three weeks in a row.
Analysts attributed the change in trend to a decrease in the likelihood of an increase Fed key rate at the meeting in September after inflation data.
The lion’s share of the inflow was formed by receipts in bitcoin funds ($27 million). They partially offset the record $111 million outflow since March the previous week.
In the structures that allow you to open shorts on the first cryptocurrency, the negative dynamics resumed – customers took $2.7 million after a zero change in the previous reporting period.
Ethereum funds recorded a $2.5 million inflow versus a $5.9 million outflow the previous week.
In products based on other altcoins, positive dynamics was observed – from $0.1 million in LTC to $0.7 million in Uniswap.
The wave of receipts in XRP products continued for the 16th week in a row. From the beginning of the year AUM increased by 127%.
Recall that Blockstream CEO Adam Back predicted the growth of bitcoin to $100,000 before the halving.
Earlier, Bloomberg analyst James Seyffart increased the chances of approval of a digital gold exchange-traded fund to 65%.
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