With a 99 percent stake, Bitcoin topped this week’s entry. Bitcoin inflows were $ 70 million each week last week.
According to a survey released on Monday, investors poured a record $ 1.47 billion into digital investment products last week, fueled by the cryptocurrencies conference and the creation of the first bitcoin futures exchange fund.
The increase in flow occurred as Bitcoin (BTC), the world’s most valuable cryptocurrency by market capitalization, climbed to $ 66,974 last week.
The previous high was set in February when revenue topped $ 640 million. With the arrival of cryptocurrencies last week, the total annual sum has risen to $ 8 billion.
Last week’s entrance was dominated by bitcoin-focused funds, with 99 percent of all revenue going into cryptocurrency wallets. The amount of money invested in bitcoin during the last week has been calculated at $ 70 million.
According to a study, “this is a direct outcome of the United States Securities and Exchange Commission (SEC) authorizing the bitcoin ETF to invest in the future and the listing of two bitcoin investment products.”
The SEC approved the ProShares Bitcoin Strategy ETF, the first bitcoin ETF for the future, on October 15, pushing the price of bitcoin beyond $ 60,000 for the first time in six months.
On October 19, the ProShares ETF began trading on the New York Stock Exchange under the BITO tick symbol.
Ether (ETH), Ethereum’s traditional blockchain cryptocurrency and the world’s second-largest, hit a new high last week, reaching $4,361 on October 21st.
Despite the fact that the price of ETH has increased, cryptocurrency-focused investments have declined for the third week in a row. Last week, ether-focused funds saw a $1.4 million outflow.
“This is taking a modest profit when the stock closes pretty high,” the report claimed.