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The crypto market is witnessing a bullish trend with a third consecutive week of inflows, totaling $1.35 billion last week alone. This surge has propelled July’s figures past the $3 billion mark, highlighted in CoinShares’ recent report. Bitcoin continues to dominate, drawing in $1.27 billion, primarily through major products like BlackRock’s IBIT and Fidelity’s FBTC. Despite a slight dip, short-bitcoin ETPs experienced minor outflows of $1.9 million.
The broader market also showed robust activity with ETP trading volumes soaring by 45%, reaching $12.9 billion last week. This represents only a fraction of the total market volume but underscores the increasing investor interest. Ethereum and other altcoins like Solana and Litecoin also recorded positive inflows, with Ethereum’s upcoming ETFs stirring further anticipation.
Geographically, the investment fervor was strongest in the US and Switzerland, with significant inflows of $1.3 billion and $66 million, respectively. Conversely, Brazil and Hong Kong saw minor outflows. This global pattern of investment points to a sustained confidence in crypto, driven by both seasoned players and new entrants, setting a vibrant tone for the market’s future.
