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xrp
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cardano
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usd-coin
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matic-network
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dogecoin
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Chainlink (LINK) $ 12.79
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monero
Monero (XMR) $ 156.96
bitcoin
Bitcoin (BTC) $ 65,032.42
ethereum
Ethereum (ETH) $ 3,160.53
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 568.44
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.615723
binance-usd
BUSD (BUSD) $ 0.999787
dogecoin
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cardano
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solana
Solana (SOL) $ 169.88
matic-network
Polygon (MATIC) $ 0.49642
polkadot
Polkadot (DOT) $ 5.73
tron
TRON (TRX) $ 0.135701

Crypto Investment Products See Over $1 Billion Inflows in a Week with BTC, ETH, and SOL Standing Out

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Cryptocurrency funding merchandise noticed over $1.05 billion in inflows over the previous week with Bitcoin (BTC) merchandise seeing $1.012 billion and Ethereum centered merchandise seeing $35.5 million of inflows.

Based on CoinShares’ newest Digital Asset Fund Flows report, different altcoin funding merchandise noticed inflows with Solana (SOL) merchandise standing out after seeing $8 million of inflows, bringing whole year-to-date flows to $29 million as traders maintain betting on the good contract platform.

Litecoin, XRP, and Chainlink additionally noticed inflows, whereas funding merchandise specializing in Binance’s BNB. Cardano’s ADA, and on a number of cryptocurrencies all noticed small outflows, with Cardano’s standing out s $1.2 million have been withdrawn from these merchandise, ringing year-to-date flows down to only $8 million.

In the meantime, merchandise shorting the flagship cryptocurrency Bitcoin noticed outflows of $4.3 million. These flows occurred shortly after the SEC permitted functions from main inventory exchanges to checklist spot Ether exchange-traded funds (ETFs) clearing the trail for these merchandise to begin buying and selling later this yr.

The SEC’s approval was met with optimism within the cryptocurrency area, with the worth of ETH surging round 20% in a day after the choice was revealed, whereas the cryptocurrency market as an entire added over $200 billion to its market capitalization.

The approval marks a major shift for the SEC, which has traditionally been cautious about cryptocurrency and had been investigating whether or not to deem the second-largest cryptocurrency a commodity or a safety.

Whereas the change functions have been permitted, particular person ETF issuers together with VanEck, ARK Investments, and BlackRock nonetheless want the SEC to greenlight their registration statements earlier than buying and selling can start.

After a current correction, Ethereum’s value is now up round 1.8% over the past week to now commerce at $3,855, whereas BTC is down over 2.3% over the identical interval because it’s now buying and selling at round $68.200 on the time of writing.

Featured picture by way of Unsplash.

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