Digital Assets On The Rise: 4th Consecutive Week Nets $66 Million
The digital assets markets experienced a consecutive fourth week of inflows from institutional investors. CoinShares data shows that a portion of the momentum observed can be attributed to an increasing expectation for the authorization of a spot Bitcoin Exchange-Traded Fund (ETF) in the United States. The aggregate value of assets under management (AuM) has experienced a notable surge, reaching $33 billion, denoting a 15% growth rate since the beginning of September. Nevertheless, investors are displaying a greater degree of prudence compared to their response to Blackrock’s....
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Institutional crypto appetites have shifted away from altcoin back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row. Institutional investors are pivoting back to digital gold with Bitcoin (BTC) investment products posting a third consecutive week of inflows. According to CoinShares’ latest Digital Asset Fund Flows Weekly report, BTC investment products generated $68.7 million worth of inflows between Sept. 27 and Oct. 1, representing a 36% increase in exposure week-over-week. While products tracking BTC have now dominated....
Institutional investors are diversifying into altcoins amid the latest market downturn. Multi-asset investment products registered another sharp rise in weekly inflows. Institutional outflows from cryptocurrency funds intensified last week, a sign that fund managers were still taking profits on their Bitcoin (BTC) holdings following a historic run-up through April. Digital asset investment products saw cumulative outflows totaling $19.5 million for the week ended Friday, marking the fourth consecutive weekly drawdown, according to CoinShares data. The bulk of the outflows were concentrated....
Ether investment products have suffered record outflows this past week, while Bitcoin flows have begun to stabilize. Ethereum investment products have experienced a record outflow of $50 million this past week, signaling bearish sentiment among institutional investors.According to the CoinShares' “Digital Asset Fund Flows Weekly” report, Ether products have now experienced outflows for three consecutive weeks, with $64.3 million leaving the sector since the week ending June 6. Despite the drawdowns, $943 million has flowed into Ether investment products since the start of 2021.The crypto....
Nets, a Nordic payment giant which traces its roots back to 1968, has joined hands with Coinify to establish a Blockchain Development Lab. Nets joins a long list of financial services firms who are exploring blockchain to benefit from this innovation which has the potential to disrupt the market. Nets – A Nordic Payment Giant. Nets was formed in 2009 through a merger between three leading companies (BBS, Teller and PBS) in the payment cards, payment solutions and payment information space. PBS, which was established in 1968, was one of the earliest players in the electronic payment space....
Following a rise to a high beyond $41,700 earlier this week, bitcoin’s price has fallen for two consecutive sessions. Despite this, BTC continues to trade above $40,000, whilst ETH continues to hover above $2,800.
Bitcoin
BTC fell for its second consecutive session on Friday, as the world’s largest cryptocurrency has lost some momentum, following Wednesday’s Fed decision.
Yesterday saw bitcoin trade at a peak of $41,102.23, however as of writing, prices have fallen to an intraday low of $40,302.40.
This drop means that BTC/USD is 1.66%....