Following the sharp declines experienced in Bitcoin (BTC), Ethereum (ETH) and altcoins last week, critical data is expected this week.
This week, with the start of October, while ETF decisions for altcoins such as XRP and Solana (SOL) are awaited, CoinShares published its weekly cryptocurrency report and stated that there was an outflow of $812 million last week.
“Cryptocurrency investment products saw outflows of $812 million last week, but year-to-date inflows remain strong at $39.6 billion, close to last year’s record.”
Bitcoin Saw the Biggest Uptrend!
When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin.
While Bitcoin experienced an inflow of $719 million, Ethereum (ETH) experienced an inflow of $409 million.
When we look at altcoins, the positive atmosphere is seen, with Solana (SOL) experiencing an inflow of $291 million, XRP $93.1 million, and Sui (SUI) $2.9 million.
“Bitcoin recorded $719 million in outflows for the week.
Ethereum saw $409 million in outflows last week, virtually halting the $12 billion in inflows since the beginning of the year. September inflows have now fallen to just $86.2 million.
Solana was among the standout performers with $291 million and XRP with $93.1 million, likely part of the eagerly anticipated upcoming US ETF launches.
When looking at regional fund inflows and outflows, the USA ranked first with an outflow of $1 billion.
After the United States, Sweden came in second with an exit of $13.4 million.
In comparison to these outflows, Switzerland experienced an inflow of $126.8 million and Canada $58.6 million.
*This is not investment advice.
