HomeCrypto NewsCrypto investors spend $3.2 billion in just 3 weeks

Crypto investors spend $3.2 billion in just 3 weeks


Crypto Investors Pour $3.2 Billion into Digital Asset Investment Products, Bitcoin Leads the Way

Crypto investors are showing strong bullish sentiment as they continue to pour billions of dollars into digital asset investment products. According to CoinShares, a whopping $3.2 billion has been invested in these products over the last three weeks, with $1.35 billion deployed just last week.

The majority of the capital flowed into ETFs, with crypto-backed funds seeing a 45% increase in volume week-on-week. Bitcoin products, particularly in the U.S., led the way with $1.24 billion in inflows between July 15 and July 19. This surge in investment comes as spot Bitcoin ETFs on Wall Street saw net inflows for 11 consecutive days.

However, Ethereum is also gaining favor among crypto investors, surpassing altcoin rival Solana for the most inflows year-to-date. With $103 million invested in ETH products compared to SOL’s $71 million, Ethereum is poised to benefit from increased demand. In fact, the approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission is expected this week, with NYSE Arca already certifying its acceptance to list and trade spot Ethereum ETF shares from Bitwise and Grayscale.

The potential approval of spot Ethereum ETFs could pave the way for more digital asset ETFs, with issuers like VanEck already filing for a spot Solana ETF. While staking language has not been included in SOL ETF bids yet, SEC commissioner Hester Peirce hinted at the possibility of allowing staking in crypto ETFs. ETFStore president Nate Geraci even predicted the debut of combined ETFs featuring Bitcoin, Ethereum, and Solana in the near future.

Overall, the influx of billions of dollars into digital asset investment products reflects a growing confidence and interest in the cryptocurrency market among investors. With Bitcoin and Ethereum leading the way, the future of digital asset ETFs looks promising.

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