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tron
TRON (TRX) $ 0.257592
bitcoin
Bitcoin (BTC) $ 98,583.41
ethereum
Ethereum (ETH) $ 3,493.23
tether
Tether (USDT) $ 0.999627
bnb
BNB (BNB) $ 695.20
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 2.33
binance-usd
BUSD (BUSD) $ 0.995957
dogecoin
Dogecoin (DOGE) $ 0.336079
cardano
Cardano (ADA) $ 0.937045
solana
Solana (SOL) $ 196.17
matic-network
Polygon (MATIC) $ 0.526298
polkadot
Polkadot (DOT) $ 7.53
tron
TRON (TRX) $ 0.257592
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    Crypto AUM reaches two-year peak of $59 billion pushed by US Bitcoin ETF inflows

    Latest News

    Massive inflows into the newly launched spot Bitcoin Alternate-Traded Funds (ETFs) in the USA have propelled the belongings below administration (AUM) for crypto-related funding merchandise to a two-year excessive of $59 billion, in response to CoinShares’ newest weekly report.

    US dominate flows

    Throughout the previous week, digital asset funding merchandise witnessed important inflows totaling $1.1 billion, primarily from the US.

    This move boosted the year-to-date inflows to $2.7 billion, with international AUM reaching $59 billion. Though outflows from Grayscale Bitcoin Belief (GBTC) have diminished, CoinShares warned a couple of important promoting stress that might emerge from bankrupt Genesis’s transfer to divest its GBTC shares.

    StarCrypto reported that Genesis lately sought court docket approval to divest $1.6 billion of its shares held in a number of of Grayscale’s merchandise, together with GBTC, Grayscale Ethereum Belief (ETHE), and Grayscale Ethereum Traditional Belief (ETCG).

    “The outflows from incumbents have slowed considerably, however the potential sale of the Genesis holdings of US$1.6 billion might immediate additional outflows within the coming months,” CoinShares Head of Analysis James Butterfill stated.

    Switzerland additionally skilled substantial inflows exterior the US, amounting to almost $40 million. Conversely, Canada, Germany, and Sweden noticed minor outflows of $17 million, $10 million, and $6 million, respectively.

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    Bitcoin accounts for 98% of the influx.

    Throughout digital belongings, Bitcoin stays dominant, accounting for 98% of final week’s inflows, with inflows exceeding $1 billion.

    Ethereum and Cardano additionally skilled constructive sentiments, with inflows of $16 million and $6 million, respectively. Different digital belongings, reminiscent of Avalanche, Polygon, and Tron, recorded inflows of $500,000, $400,000, and $400,000, respectively.

    In the meantime, high-flying Solana recorded a modest influx of $100,000 throughout the identical interval.

    The bettering market situation additionally resulted in outflows of $400,000 from Brief BTC merchandise. Final week, BTC’s value climbed to its highest worth because the US Securities and Alternate Fee (SEC) authorized a number of exchange-traded funds (ETFs) for public buying and selling. Uniswap funding merchandise additionally noticed outflows of $500,000.

    Notably, the majority of outflows from blockchain equities have been skilled by one issuer, totaling $67 million. Different issuers collectively noticed inflows amounting to $19 million.

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