Crypto Funds Break the Records With $30B in the Trading Volume.
The crypto Funds are reportedly recorded as the second largest, considering its net inflow for the week, which came to around $1.8 billion.
According to CoinShares, the most significant asset managers from Fidelity, Bitwise, Grayscale, 21 Shares, BlackRock, ProsShares and Ark Invest have immensely offered products of Global digital asset investment, which turned out to be a triumphant trading volume in just a week. And this trading amount surpassed the US spot bitcoin ETFs. Subsequently, the US-based funds are stretching out their funding activity, which, however, has dominated the net inflows.
Record surpasses $30 billion!
“Trading volumes in investment products reached a record of over $30 billion for the week, and at times represented 50% of global bitcoin daily trading volumes on trusted exchanges,” said CoinShares Head of Research James Butterfill in a statement.
Bitcoin ETFs reach the highest volume!
The US spot bitcoin ETFs witnessed a total trading volume of $22.3 billion in a week. Alongside in trading, it generated more than $7.6 billion, which is again the highest volume. Overall, the ETF trading volume is now at $73.9 billion.
The US and Switzerland set their dominance!
Besides the US-based funds, Switzerland-based funds are booming and secured as the largest inflows with $20 billion. On the other hand, countries such as Canada, Sweden, and Germany are only witnessing outflows of $23 million, $33 million, and $35 million, respectively.