Bitcoin and Ethereum See Price Rebounds as Crypto Investment Products Witness $1.44B Inflows

Following Bitcoin’s gradual rebound seen last week, the global crypto investment products also appear to have witnessed a notable influx of funds

As Bitcoin (BTC) gradually recovered last week, global crypto investment products also saw a massive influx of funds, with an impressive $1.44 billion pouring in during the same period.

This surge, as reported by CoinShares on Monday, pushed the year-to-date total to roughly $17.8 billion, indicating growing confidence among investors despite recent market downturns.

According to CoinShares’ latest report, last week's activity marked one of the largest net inflows on record, outpacing the $10.6 billion recorded during the entire bull run of 2021.

This significant increase can be largely attributed to investors taking advantage of recent dips in the prices of many different cryptocurrencies.

Bitcoin-centric funds dominated this movement, bringing in about $1.35 billion of that total amount, indicating investors’ robust appetite for the leading cryptocurrency, which continues to dominate the market despite periodic volatility.

Conversely, products betting against Bitcoin (short-BTC Products) saw a reversal in fortune, registering net outflows of $8.6 million — the most significant outflow since April.

This shift in holdings indicates a change of heart, which could be due to more favorable market conditions or may simply involve strategic portfolio changes for large holders.

"We believe price weakness (due to the German Government bitcoin sales) and a turnaround in sentiment (due to lower than expect CPI in the US) prompted investors to add to positions, particularly in short-term investment vehicles, such as exchange-traded products,” said James Butterfill, head of research at CoinShares, in the report.

While the inflow rise was global, US-based funds were by far the largest receiver at $1.3 billion. However, there were also considerable inflows in other parts of the world.

For instance, Switzerland saw $36 million, and Hong Kong and Canada collectively added more than $137 million, indicating a universal interest in cryptocurrency investment.

Significantly, Ethereum-based investment products also enjoyed a boost, with a $72 million increase in inflows.

“This is likely in anticipation of the imminent approval of the spot-based exchange-traded fund (ETF) in the US, with the anticipation thatснимок a approval will drive資金 into Ethereum-related products,” Butterfill stated.

Both Bitcoin and Ethereum saw a good measure of recovery last week as both assets rose in price following their recent correction, which saw BTC briefly drop to as low as $53,000 levels and ETH fell below $2,900.

Both assets are now seeing a rebound with Bitcoin up 6.1% in the past 24 hours alone to stand at a current trading price of $63,764 at the time of writing.

This marks a decrease of roughly 13.9% from its March peak above $73,000.

Meanwhile, Ethereum is also up 6.4% in the past 24 hours, trading at $3,396 at the moment.

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