Bittime - According to data from CoinShares, total inflow into crypto asset investment products last week reached $2 billion (around IDR 29.6 trillion). This surge in inflow is a continuation of the positive trend over the last five weeks.
Ethereum Sees Biggest Inflow Since March
Bitcoin is still the crypto asset most sought after by investors, with inflows reaching $1.97 billion (around Rp. 29.2 trillion) last week.
Apart from Bitcoin, Ethereum experienced the largest increase in inflow since last March, with a total of $69 million (around IDR 1.02 trillion). This increase in Ethereum inflow was most likely triggered by the US SEC's surprise decision to approve the launch of an Ethereum ETF.
In addition, this surge in inflow is also believed to be a direct response to weaker-than-expected US macroeconomic data, thereby advancing expectations of an interest rate cut.
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Trading Activity Increases
Not only inflow, Exchange Traded Product (ETP) trading volume also increased by 55% from the previous week, reaching $12.8 billion (around Rp. 190.4 trillion).
In addition, positive sentiment in the crypto market also pushed the total crypto assets under management (AuM) to exceed $100 billion (around IDR 1,480 trillion) for the first time since March 2024.
US Dominance and Focus Per Region
Regionally, the United States accounted for most of last week's inflow with a total of $1.98 billion (around IDR 29.4 trillion).
In fact, the first day of that week was recorded as the day with the third largest inflow in history.
Interestingly, the iShares Bitcoin ETF has now surpassed Grayscale, the largest incumbent Bitcoin manager, with AuM reaching $21 billion (around IDR 312 trillion).
Also Read How to Buy Crypto:
Altcoin and Short-Bitcoin Activity
Although Bitcoin and Ethereum took center stage, altcoins such as Fantom and XRP also recorded inflows of $1.4 million (around IDR 2.1 billion) and $1.2 million (around IDR 1.8 billion) respectively.
Meanwhile, short-bitcoin products (investment products that bet on Bitcoin's price decline) experienced outflows for the third week in a row, totaling $5.3 million (around IDR 78.9 billion).
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Solana Takes Off with $6.1 Million Inflow, Will Other Altcoins Follow?
Bitcoin ETF: Grayscale GBTC Outflows Slow, Dominated by FBTC Inflows
Recorded BlackRock Bitcoin ETF Inflow $0 for the First Time, Ask for a Change?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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