In just 11 weeks, institutional investors have accumulated an additional $1.8 billion in holdings. Speculations surrounding the potential approval of spot Bitcoin ETFs in the United States continue to drive investor interest. Moreover, Bitcoin itself has been delivering strong performance. However, the cryptocurrency market experienced a drop of nearly 5% on the morning of December 11, raising the possibility of fund outflows from crypto funds this week.
In terms of last week’s activity, European companies exhibited the highest level of interest, investing $43 million more than they withdrew. US firms increased their investments by $14 million. Conversely, investors from Hong Kong and Brazil made withdrawals of $8 million and $4.6 million, respectively.
Bitcoin remains the top choice for investment inflows, with $19.8 million being allocated to the leading cryptocurrency. Additionally, some companies are placing bets on a decline in BTC’s price, resulting in $8.6 million being invested in short positions. Other assets that garnered interest included Ether with $9.7 million, Solana with $3.1 million, among others. Outflows were recorded in multi-currency funds with $2.3 million and ADA coin trusts with $0.3 million. Since the beginning of the year, investors have invested $1.7 billion in Bitcoin trusts and $146 million in Solana funds.
Previously, Bits.Media published an extensive review of the cryptocurrency market.