Published on oktober 2, 2024, 12:22 am
Image source: Fox News
```json [ "TLDR: Institutional investors have shown great interest in Bitcoin investment funds and crypto ETPs, leading to over $1 billion in inflows within a week. Bitcoin ETPs were the top choice with $1 billion inflow, while Ether products saw positive flows after five weeks of decline. Overall, crypto investment products experienced a $1.2 billion influx, reaching a total assets under management of $92.7 billion. Market sentiment is optimistic amidst expectations of dovish US monetary policy. Bitcoin's price surged but faces resistance levels at $65k; it traded around $63,815 after hitting a local high of $66,840.", "Disclaimer: The article provides information on recent cryptocurrency investment trends and market sentiments without offering specific investment advice. Readers are advised to thoroughly research before making financial decisions." ] ```
Investors have shown a keen interest in Bitcoin investment funds and crypto exchange-traded products (ETPs) recently, contributing to over $1 billion in inflows just within the past week. This surge in investments has marked a significant moment in the history of cryptocurrencies.
Bitcoin ETPs remained the top choice for institutional investors during the week ending on Sept. 27, as funds poured into crypto assets following Bitcoin’s resurgence above $66,000. According to CoinShares’ latest report released on Sept. 30, crypto asset investment products experienced a third consecutive week of inflows totaling $1.2 billion for the period between Sept. 23 and Sept. 27.
The report highlighted that a substantial portion of these capital flows was directed towards Bitcoin investment products, drawing in $1 billion in inflows over seven days, accounting for about 87% of the total influx. Notably, Bitcoin funds also led the way in monthly performance by attracting $1.1 billion in investments throughout September, consequently elevating the total assets under management (AuM) to $74.6 billion.
Interestingly, Ether (ETH) investment products broke a five-week streak of negative flows by amassing $87 million in inflows during this period. Despite being their first measurable inflows since early August, these investments were accompanied by outflows of $60 million month-to-date.
In total, all crypto investment products witnessed an influx of $1.2 billion with overall AuM rising by 6.2% last week to reach $92.7 billion.
James Butterfill, CoinShares’ head of research, attributed this significant inflow to continued expectations of dovish monetary policy in the US and positive market sentiments prevailing among investors.
Moreover, data from Alternative indicated that sentiment around cryptocurrencies is currently high as reflected by the Crypto Fear and Greed Index hitting its peak level since July 31 – entering into the “greed” zone at 61 from a low fear-based rating of 30 just a month ago.
The surge in Bitcoin’s price from Sept. 6 resulted in setting a local high at $66,840 before undergoing some correction to trade around $63,815 at present value levels. To break away from the descending channel seen since March’s all-time high rejection point and consolidate an upward trend successfully seems crucial for Bitcoin’s recovery above key resistance levels set between $65k and beyond towards new milestones such as surpassing psychological barriers like $68,000 and retesting its all-time high at $69,000 set earlier this year.
It’s important to note that this article serves as informational content only and does not provide any form of investment advice or recommendations; hence it is advisable for readers to conduct thorough research before making any financial decisions regarding cryptocurrencies or investments related to them.
Original article posted by Fox News
