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Last Week's Inflow of $1.9 Billion into Cryptocurrency Investment Products

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JOON HYOUNG LEE
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  • It was reported that $1.9 billion flowed into cryptocurrency investment products last week.
  • The Bitcoin sector contributed the most with an inflow of $1.6 billion.
  • All major countries recorded net inflows except for Sweden.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

A total of $1.9 billion was reported to have flowed into cryptocurrency investment products last week.

According to CoinShares, a cryptocurrency-focused asset management firm, $1.9 billion was the net inflow into cryptocurrency investment products last week. This marks the second consecutive week of net inflows. The year-to-date net inflow amounts to $4.8 billion.

Specifically, the inflow into the Bitcoin (BTC) sector was $1.6 billion, followed by Ethereum (ETH) with $250 million, and Ripple with $18.5 million. There were no cryptocurrencies with net outflows.

By region, the United States ranked first with a net inflow of $1.7 billion. Switzerland ($34.6 million), Canada ($30.9 million), and Germany ($23.1 million) also recorded net inflows. Sweden experienced a net outflow of $5.7 million.

CoinShares stated, "The fund flows last week demonstrate that investor confidence and interest in the cryptocurrency market remain strong."

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gilson@bloomingbit.ioCrypto Journalist