Cryptocurrency investment products have seen another week of strong flow, mainly driven by Ether (ETP) products.
Global Crypto ETPS has posted $ 3.75 billion of flows during the trade week ending Friday, the European Crypto Asset Manager Coinhares reported on Monday.
Flows come in the middle of the strong bullish momentum for the ether (Eth), with prices close to all times high level above $ 4,700 on Thursday, According to in coingecko data.
After a four -day flow, however, the investor’s feelings moved to red, with the same Bitcoin (Btc) and ether funds seeing flows on Friday, According to In Sosovalue.
Bitcoin ETPs see moderate flows in spite of ATH more than $ 124,000
Despite Bitcoin’s collapse above $ 124,000 on Wednesday, BTC failed to drive massive ETP acquisitions last week, with flows worth $ 552 million, or about 15% of the total weekly flow.
Ether led the acquisitions last week with streams worth $ 2.9 billion, Marking a growing appetite for the investor for Altcoin ETP.
Solana (Sol) and XRP (XRP) Saw the flow of $ 176.5 million and $ 125.9 million, respectively. Litecoin (LTC) and toncoin (Ton) Found out of $ 0.4 million and $ 1 million, respectively.
Maximum week of trading volume ever
According to Bloomberg ETF analyst Eric Balchunas, last week marked the highest trading volume on the week’s Sunday Funds exchanged by exchange (ETF).
After four days of trading last week, Bitcoin and Ether ETF spot reached $ 40 billion in trading volume, mainly driven by “Ether Etfs to climb big,” Balchunas wrote on X Friday.
“ETHSANITY: Ether ETFS weekly volume is about $ 17 billion, blowing the record, people woke it up in July,” he said.
Novadius President Nate Geraci also took X to I -Highlight Trade volume records, observing the ETF area “The previous weekly trading volume record has completely eliminated.”
“Wondering if there is any ‘no demand’ naysayers there,” he added.
Magazine: Coinbase calls for ‘Full-Scale’ Alt Season, Ether Eyes $ 6K: Hodler’s Digest, August 10-16
