Bitcoin (BTC) and Ether (ETH) are leading an amazing comeback in the cryptocurrency market. Year-to-date (YTD), a record $17.8 billion has been invested in digital assets. This rise suggests that the crypto market might be about to start a big comeback.
On record, Bitcoin got over $60,000 in new purchases in the fifth-largest weekly inflow. Ether also saw a huge increase in new purchases as people waited for the first US Ether exchange-traded funds (ETFs).
CoinShares data shows that digital asset investment goods received $1.44 billion last week, adding to the record-high $17.8 billion total for the year. This new record beats the old one of $10.6 billion, set in 2021. This shows that investors are once again interested in the crypto business.
The study says that most of these inflows came from buyers in the United States. Switzerland also broke records by buying many digital assets.
Over $1.35 billion was added to Bitcoin in one week, the fifth-largest weekly increase on record. This big flow helped BTC get back to $60,000 again. CoinShares said that short Bitcoin-related trading products lost over $8.6 million last week, the most in a single week since April 2024.
Bitcoin Imports Surge Amid Anticipation Of US Ether ETFs
Bitcoin imports have been very high lately. This is probably because people bought at a lower price, partly caused by the German government’s BTC sales.
After Bitcoin, over $72.1 million came into ETH investment goods last week, making it the second most popular cryptocurrency to buy. A big reason for these flows is people’s excitement about the first spot Ethereum ETFs in the US, which are set to start in the next few weeks.
People in the field say that US spot Ether ETF producers are waiting for the Securities and Exchange Commission (SEC) to finalize their views, which could happen this week at the earliest. Company names like VanEck and 21Shares have changed how they are listed with the SEC so they can sell these ETFs. Eight service businesses in the US are ready to open but are waiting for the government to permit them.
Investors are more positive about the cryptocurrency market’s long-term prospects because they plan to make more investments and issue Ether ETFs.
A lot of money is coming into the crypto market, and buyers are very interested in Bitcoin and Ether. This shows that digital assets are strong and will stay popular.
The huge amounts of money coming into the crypto market and the strong interest from investors in Bitcoin and Ether show that digital assets are strong and will continue to be popular.
