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NewsBTC 2021-11-02 23:00:23

Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound

Bitcoin ETF inflows had hit over a billion dollars on their first week of trading. The success of the ETFs saw the digital asset rally towards a new all-time high. Interest in the market grew tremendously among retail and institutional investors alike, leading to a week of record inflows, the highest the market has ever seen in a seven-day period. This demand has been a culmination of growing interest from institutional investors over the past couple of months. Related Reading | MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO However, the past week has seen a slow down in the interest coming from the big players. Inflows into Bitcoin ETFs were considerably lower last week compared to the previous weeks. Data shows that the market saw inflows of less than half that was previously recorded. Over a billion had poured into bitcoin ETFs the first week following the approvals. But inflows for last week only came out to a total of $53 million. Institutional Inflows Into Bitcoin Fall A recent CoinShares report shows that inflows into the market had nosedived for the past week. In October alone, institutional inflows into the top cryptocurrency had hit $2 billion. This figure was mainly driven by the ETF approvals in the third week of the month which saw more than $1.4 billion flow into BTC in a single week. The last week of October did not fare too well in this regard. BTC price begins another rall...

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Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound

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