Published on juli 15, 2024, 10:31 am
Image source: Fox News
```json [ "TLDR: Bitcoin and Ether experience significant inflows, with Bitcoin surpassing $60,000 fueled by strong weekly deposits. Total digital asset investments for 2024 mark a record of $17.8 billion year-to-date. Ether also sees inflow surge as anticipation for US Ether ETFs grows. The cryptocurrency market shows signs of resurgence and mainstream acceptance." ] ```
Bitcoin has witnessed impressive inflows, marking its fifth-largest week of deposits on record and helping it surpass the $60,000 milestone. Concurrently, Ether also experienced a surge in inflows, securing the second spot amid high expectations for US Ether exchange-traded funds (ETFs).
This surge in digital asset investments has set a new record surpassing $17.8 billion year-to-date (YTD), indicating a potential resurgence in the cryptocurrency market. Last week alone, these investment products attracted approximately $1.44 billion in flows.
Data from CoinShares reveals that 2024’s YTD inflows have soared to $17.8 billion, significantly eclipsing the previous record of $10.6 billion established in 2021. The United States stands out as a major contributor to these inflows, with Switzerland also making substantial purchases of digital assets.
Bitcoin recorded substantial weekly inflow numbers exceeding $1.35 billion, resulting in a resurgence above the $60,000 mark—the fifth-largest weekly inflow on record for the pioneer cryptocurrency. Conversely, short Bitcoin-related investment products encountered significant outflows amounting to over $8.6 million, marking their largest since April 2024.
The recent dip-buying surge in Bitcoin was likely triggered by a price decline partly influenced by the sale of BTC by the German government—an event highlighted by CoinShares.
Ether saw notable growth as well with inflows totaling over $72.1 million within the past week alone, anticipating the launch of the first spot Ethereum ETF in the US soon—a development set to occur within weeks pending final comments from the Securities and Exchange Commission (SEC). Various issuers like VanEck and 21Shares took steps towards obtaining SEC approval for listing spot Ether ETFs.
As eight spot issuers await regulatory green lights in the US for Ether ETFs trading activities, both Bitcoin and Ether continue their momentum within the cryptocurrency market landscape amidst evolving regulations and growing investor interest.
In conclusion, these significant developments reflect an ongoing evolution within the realm of digital assets and signal growing mainstream acceptance and adoption among investors worldwide.
Original article posted by Fox News
