Cryptocurrencies post eight straight weeks of inflows – CoinShares data
Information about Cryptocurrencies post eight straight weeks of inflows – CoinShares data
Kevin David Scam or Legit
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Cryptocurrency products and funds attracted $226.2 million in investments last week, marking their eighth straight week of inflows, a report from digital asset manager CoinShares showed on Tuesday.
Over an eight-week run, total crypto product inflows hit $638 million, with a year-to-date total of $6.3 billion.
Bitcoin, as expected, led the way, nabbing $225 million, for a fourth straight week of inflows, according to data in the week ended Oct. 8.
“We believe the turnaround in sentiment towards bitcoin is due to constructive statements from SEC chair Gary Gensler, potentially allowing a bitcoin ETF (exchange traded fund) in the U.S.,” wrote James Butterfill, investment strategist at CoinShares, in the report.