Transaction URL: https://blockchain.com/btc/tx/05361157502b093fd5d404d7aa95d2138c1ff328c4881aba9c7521615ca04928
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Digital asset investment products have maintained an impressive streak with inflows reaching $3.2 billion last week, marking the tenth consecutive week of positive movement. This year’s cumulative total of $44.5 billion has set a new record, dwarfing figures from previous years. Notably, Exchange Traded Products (ETPs) contributed significantly, representing 30% of all Bitcoin traded on reputable exchanges.
Globally, investment sentiment remains bullish, as evidenced by consistent inflows across various regions including the US, Switzerland, Germany, and Brazil, which collectively accounted for nearly $3.2 billion. Bitcoin investment products alone attracted $2 billion, pushing the total since the US election to an impressive $11.5 billion. Additionally, the rising interest in short Bitcoin positions, following recent price surges, added another $14.6 million.
The optimism extends beyond Bitcoin. Ethereum has seen seven weeks of continuous inflows, totaling $1 billion during this period, signifying a robust improvement in market sentiment. Other cryptocurrencies like XRP also experienced substantial gains, with $145 million inflows, fueled by the anticipation of a US-listed ETF, while Polkadot and Litecoin recorded inflows of $3.7 million and $2.2 million, respectively.
VanEck is putting $2.5 million into DAWN, a DePIN project aiming to create a decentralized internet service provider. The investment comes from VanEck’s Digital Assets Alpha fund and VanEck Ventures.
The strategic funding round marks the first time that “multiple funds at VanEck have made a direct investment into the same company,” the firm exclusively told Blockworks. The newest raise comes after Andrena, the company behind DAWN, raised $18 million in a round back in August.*
Andrena CEO Neil Chatterjee told Blockworks that DAWN was designed to capitalize on the “transformation of our lives” as society goes from being wired into the internet to being completely wireless…
Read more on Blockworks
MicroStrategy has significantly expanded its Bitcoin portfolio by acquiring an additional 15,350 BTC, at an average price of approximately $100,386 per Bitcoin. This latest purchase boosts the company’s total Bitcoin holdings to 439,000 BTC, acquired for an estimated $27.1 billion at an average price of about $61,725 each.
MicroStrategy’s Bitcoin investment has yielded remarkable results, with a quarter-to-date (QTD) yield of 46.4% and an impressive year-to-date (YTD) yield of 72.4%. This performance highlights the potential of Bitcoin as a lucrative asset in today’s digital economy, bolstering investor confidence and further establishing MicroStrategy’s position as a pioneer in cryptocurrency investments. The company continues to advocate for Bitcoin, leveraging its growing digital asset base to enhance shareholder value in the emerging crypto market.
