Bitcoin rides on gold. While this year’s results reached record lows in the markets, the Bitcoin (BTC) remains “theprimary objective » investors, recording inflows of $310.6 million over the past two weeks.
The Bitcoin Rush (BTC)
We mentioned this CoinShares report during one of our technical analysis on the queen of cryptocurrencies last week. It was then observed, as CoinShares Head of Research James Butterfill points out, that Bitcoin-related products have seen a significant increase in the past two weeks.
For comparison, although ETH-related investment products registered $2.7 million last week, ETH is not dominating institutional investors. They are all after the BTC, the top 100 richest people in the world testifies to it.
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$310 million for BTC
More specifically, these are $310.6 million who have entered into BTC-related products, highlighting an already noticed attraction of institutions for the queen of cryptocurrencies, whether across the Atlantic or on Asian markets.
The report also points out that Bitcoin products have represented 98% of investment product inflows in digital assets highlighting the visible increase in Bitcoin’s dominant capitalization in recent days to 51.46%.
The queen of cryptocurrencies remains a must-have value for institutional investors despite a harsh and boring crypto winter. Massive inflows into bitcoin investment products testify to the enduring appeal of this cryptocurrency as an asset class, as also evidenced by renewed enthusiasm for finance moguls for Bitcoin ETFs.
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