{"id":573595,"date":"2024-02-06T17:00:44","date_gmt":"2024-02-06T17:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=573595"},"modified":"2024-06-11T08:33:11","modified_gmt":"2024-06-11T08:33:11","slug":"bitcoin-solana-721-million-inflows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-solana-721-million-inflows\/","title":{"rendered":"Bitcoin, Solana Take Center Stage In $721 Million In Institutional Inflows"},"content":{"rendered":"

According to a <\/span>CoinShares report<\/span><\/a>, <\/span>Bitcoin<\/span> and <\/span>Solana<\/span><\/a> led the way in the amount of institutional inflows into digital asset investment products last week. The report also highlighted an emerging trend among <\/span>Spot Bitcoin ETFs<\/span><\/a> in the US.\u00a0<\/span><\/p>\n

Bitcoin Records $703 Million In Inflows<\/h2>\n

Bitcoin is reported to have seen inflows totaling $703 million last week, thereby accounting for 99% of all flows into these investment products. Solana came in a distant second with an inflow of $13 million, <\/span>outperforming the second-largest crypto token<\/span><\/a>, Ethereum, which saw an inflow of $6.4 million.\u00a0<\/span><\/p>\n

Related Reading: Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits<\/a><\/div>\n

The spotlight was on Spot Bitcoin ETFs in the US, with these funds seeing an inflow of $721 million last week. These new ETFs are said to have now averaged $1.9 billion in inflows over the last four weeks, bringing their total inflows to $7.7 billion since launch. Meanwhile, <\/span>Grayscale\u2019s GBTC<\/span><\/a> has contributed largely to the $6 billion that these funds have recorded as outflows so far.\u00a0<\/span><\/p>\n

CoinShares noted that these outflows have slowed in recent weeks, suggesting that GBTC investors have cooled off on taking profits. The inflows recorded by other Spot Bitcoin ETFs have also been <\/span>able to overshadow<\/span><\/a> GBTC\u2019s outflows. NewsBTC had also <\/span>recently reported<\/span><\/a> how BlackRock\u2019s IBIT <\/span>had surpassed GBTC<\/span><\/a> in trading volume for the first time.\u00a0<\/span><\/p>\n

A Drop In Trading Volume<\/h2>\n

Last week was a relatively slow week for digital asset investment products in terms of trading volume. The report highlighted <\/span>how trading volumes in ETPs<\/span><\/a> (Exchange Traded Products) fell to $8.2 billion compared to the prior week\u2019s total of $10.6 billion. This drop in trading volume was well evident in the figures that the Spot Bitcoin ETFs recorded last week.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Says ADA Price Will Rise To $8, Here\u2019s When<\/a><\/div>\n

Notably, these funds <\/span>recorded<\/span><\/a> a daily trading volume of $924 million on February 1 last week, the first time that the trading volume was under $1 billion. This trend <\/span>continued the next day<\/span><\/a>, with the Spot Bitcoin ETFs combined recording $922 million in trading volume.\u00a0<\/span><\/p>\n

Bloomberg analyst Eric Balchunas<\/span><\/a>, however, suggested that there was no need to be alarmed.\u00a0<\/span>He noted in an X (formerly Twitter) post how there is usually a slow decline after a big, hyped launch. What is, however, evident is the fact that these funds have lived up to the hype so far. <\/span>BlackRock and Fidelity<\/span><\/a> alone (the top two issuers by AuM, excluding Grayscale) now hold over 134,358 BTC ($5.7 billion) for their Spot Bitcoin ETFs.\u00a0<\/span><\/p>\n

Interestingly, their funds <\/span>also made<\/span><\/a> the top 10 of all ETF inflows in January. This shows an impressive interest in the funds and that institutional adoption of the flagship crypto token is on the rise.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC bears beat down price to $42,700 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Analytics Insight, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
According to a CoinShares report, Bitcoin and Solana led the way in the amount of institutional inflows into digital asset investment products last week. The report also highlighted an emerging trend among Spot Bitcoin ETFs in the US.\u00a0 Bitcoin Records $703 Million In Inflows Bitcoin is reported to have seen inflows totaling $703 million last week, thereby accounting for 99% of all flows into these investment products. Solana came in a distant second with an inflow of $13 million, outperforming the second-largest crypto token, Ethereum, which saw an inflow of $6.4 million.\u00a0 Related Reading: Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits The spotlight was on Spot Bitcoin ETFs in the US, with these funds seeing an inflow of $721 million last week. These new ETFs are said to have now averaged $1.9 billion in inflows over the last four weeks, bringing their total inflows to $7.7 billion since launch. Meanwhile, Grayscale\u2019s GBTC has contributed largely to the $6 billion that these funds have recorded as outflows so far.\u00a0 CoinShares noted that these outflows have slowed in recent weeks, suggesting that GBTC investors have cooled off on taking profits. The inflows recorded by other Spot Bitcoin ETFs have also been able to overshadow GBTC\u2019s outflows. NewsBTC had also recently reported how BlackRock\u2019s IBIT had surpassed GBTC in trading volume for the first time.\u00a0 A Drop In Trading Volume Last week was a relatively slow week for digital asset investment products in terms of trading volume. The report highlighted how trading volumes in ETPs (Exchange Traded Products) fell to $8.2 billion compared to the prior week\u2019s total of $10.6 billion. This drop in trading volume was well evident in the figures that the Spot Bitcoin ETFs recorded last week.\u00a0 Related Reading: Crypto Analyst Says ADA Price Will Rise To $8, Here\u2019s When Notably, these funds recorded a daily trading volume of $924 million on February 1 last week, the first time that the trading volume was under $1 billion. This trend continued the next day, with the Spot Bitcoin ETFs combined recording $922 million in trading volume.\u00a0 Bloomberg analyst Eric Balchunas, however, suggested that there was no need to be alarmed.\u00a0He noted in an X (formerly Twitter) post how there is usually a slow decline after a big, hyped launch. What is, however, evident is the fact that these funds have lived up to the hype so far. BlackRock and Fidelity alone (the top two issuers by AuM, excluding Grayscale) now hold over 134,358 BTC ($5.7 billion) for their Spot Bitcoin ETFs.\u00a0 Interestingly, their funds also made the top 10 of all ETF inflows in January. This shows an impressive interest in the funds and that institutional adoption of the flagship crypto token is on the rise.\u00a0 BTC bears beat down price to $42,700 | Source: BTCUSD on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":573603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,84543],"tags":[428,84431,656,679,1119,91563,89185,1144,78790,6664,14690,91564,14040,12837,89406,83626,89702,85361,86410,83627],"class_list":["post-573595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-solana","tag-bitcoin","tag-bitcoin-inflows","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-inflows","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-news","tag-institutional-investor-inflows","tag-institutional-investors","tag-sol","tag-sol-news","tag-solana","tag-solana-inflows","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nBitcoin, Solana Take Center Stage In 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin, Solana Take Center Stage In $721 Million In Institutional Inflows","url":"http:\/\/wncen.com\/news\/bitcoin-solana-721-million-inflows\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-solana-721-million-inflows\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin-Solana-Small.jpeg?resize=200%2C179","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin-Solana-Small.jpeg?fit=320%2C179"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin inflows","bitcoin news","bitcoin price","btc","btc inflows","btc news","btcusd","btcusdt","crypto","crypto news","institutional investor inflows","institutional investors","sol","sol news","solana","solana inflows","solana price","solusd","solusdt"],"dateCreated":"2024-02-06T17:00:44Z","datePublished":"2024-02-06T17:00:44Z","dateModified":"2024-06-11T08:33:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin, Solana Take Center Stage In $721 Million In Institutional Inflows\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-solana-721-million-inflows\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-solana-721-million-inflows\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Bitcoin-Solana-Small.jpeg?resize=200%2C179\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Bitcoin-Solana-Small.jpeg?fit=320%2C179\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin inflows\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc inflows\",\"btc news\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto news\",\"institutional investor inflows\",\"institutional investors\",\"sol\",\"sol news\",\"solana\",\"solana inflows\",\"solana price\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2024-02-06T17:00:44Z\",\"datePublished\":\"2024-02-06T17:00:44Z\",\"dateModified\":\"2024-06-11T08:33:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin-Solana-Small.jpeg?fit=320%2C179","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573595"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=573595"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/573603"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=573595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=573595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=573595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}