Bitcoin (BTC) is showing overwhelming dominance in the digital asset market, recording a fund inflow of $867 million (approximately 1.2311 trillion won) last week. According to a report released by CoinShares on May 12th, the entire cryptocurrency investment product market achieved a fund inflow of $882 million (approximately 1.2524 trillion won).
This marks a fourth consecutive week of net inflows, with cumulative inflows reaching $6.7 billion (approximately 9.514 trillion won) this year. The rise in investor confidence was primarily driven by increased liquidity in the United States and inflation concerns.
CoinShares analysts explained that the increase in M2 money supply and rising stagflation risks were the main reasons for the increased fund inflows. Additionally, several U.S. states officially recognizing Bitcoin as a strategic reserve asset further strengthened its status as a digital safe asset.
The net fund inflow of U.S. listed cryptocurrency ETFs has exceeded $62.9 billion (approximately 89.318 trillion won) since its launch in January 2024, surpassing the $61.6 billion recorded in early February. Regionally, the United States attracted the most funds at $840 million, followed by Germany at $44.5 million and Australia at $10.2 million. In contrast, Canada and Hong Kong saw fund outflows of $8 million and $4.3 million, respectively.
Ethereum (ETH) saw only $1.5 million in inflows last week despite recent price surges. Sui attracted $11.7 million in funds, outperforming Solana (SOL), which experienced a $3.4 million fund outflow. Sui's cumulative inflows this year have reached $84 million, surpassing Solana's $76 million.
Currently, Bitcoin is trading at $103,853, down 0.8% in the past 24 hours. However, it showed a 10.3% increase last week, trading between $93,724 and $104,710. Over the past 30 days, it has risen 24.5% and is trading 4.6% below its all-time high of $108,786.
Get real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
