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CoinShares has published a report about inflows and outflows from investment products based on digital assets last week. It has noticed a “positive but cautious investor” pivot after the recent Bitcoin price falls, which drove Bitcoin-based exchange-traded products (ETPs) to the lowest level since the recent record of more than $110 billion that took place right after the U.S. presidential election in November.
Yuri MolchanCrypto assets embrace $226 million inflows, XRP among them
Last week, CoinShares reported, various crypto investment products saw $226 million coming from investors during nine consecutive trading days. Friday was rather an exception, though, with small outflows of $74 million taking place. The report believes it was likely due to the PCE (core personal consumption expenditure index) in the U.S. surpassing levels predicted by analysts. The higher values suggest that the U.S. Federal Reserve will most likely maintain its hawkish position despite this data hinting at weak growth.
In particular, Bitcoin products welcomed total inflows of $195 million after staggering month-to-date $826 million outflows. A total of $15 million flowed into Ethereum after it had lost $370 million month-to-date. Inflows into Solana last week totaled $7.8 million after $26.9 million outflows in March. As for XRP, last week it attracted $4 million after seeing total outflows earlier in March of $4.8 million.
The report highlighted the U.S., Switzerland and Germany as the regions with the most notable inflows into crypto ETPs with $204 million, $14.7 million and $9.2 million, respectively.
Alex DovbnyaStrategy buys almost $2 billion in Bitcoin
Today, Michael Saylor’s giant Strategy announced its most recent accumulation, scooping up yet another massive Bitcoin chunk. It has purchased 22,048 BTC, paying $1.92 billion for it.
One Bitcoin in that batch cost the company approximately $86,969. Now, Strategy has left the half-million-coin milestone behind and holds 528,185 Bitcoins worth approximately $35.63 billion.
On Sunday, Michael Saylor published a cryptic post, which somewhat hinted at a big upcoming purchase – the tweet contained a chart of Strategy’s Bitcoin acquisitions chart with Saylor’s caption, saying: “Needs even more Orange.” Orange in the crypto space represents the color of Bitcoin.
Vladislav Sopov
Dan Burgin