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Price Prediction

Spot Bitcoin Etfs Go “PAC-Man”, up to $ 1.2 billion in one week

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The capital was poured into Bitcoin exchange funds in the United States this week, with Tuesday alone witnessing nearly one billion dollars in new cash.

The rush prompted the weekly flows to $ 1.2 billion and the total assets under management (AUM) to $ 103 billion, based on Bloomberg data. The Flood of the Investment occurred while the Bitcoin price rose above 93,000 dollars, reaching $ 93,700 – its highest level since early March.

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Blackrock box remains the top of dogs among competitors

ISHares Bitcoin Trust (IBIT) from Blackrock is still at the forefront of $ 2.7 billion. The fund took another $ 346 million last week alone.

Bitcoin’s Ark Invest and Grayscale money with smaller flows from a year to a date of $ 410.41 million and 385.31 million dollars.

Not everything is coming roses, however. GBTC of Grayscale has seen $ 1.18 billion of flows since January, as it contradicts the total positive tide.

Increased institutional confidence is reflected in the vast participation

Eric Balunas, ETF analyst, ETF, ERIC, Eric Balunas, reported that ten of 11 of the investment funds circulated in Bitcoin have witnessed flows from new funds this week. The X-X. They will refer to “PAC-Man Mode”.

The total value circulated in all investment funds circulated in Bitcoin reached 496 million dollars, while the net assets are now about $ 57 billion – equivalent to about 2.80 % of the maximum ETHEREUM market.

The BTC market is currently at $ 1.8 trillion. table: Tradingvief

Ethereum products continue

With bitcoin -related investments flourishing, ETHEREUM products cannot simply get a break. According to reports from Coinshares, the investment products that focused on ETHEREM were lost another $ 26.7 million last week.

This takes their external flow for eight weeks to 772 million dollars. Even in the face of this continuous external flow, Ethereum remains second to a year’s flow to $ 215 million.

Short Bitcoin products under constant pressure

Bitcoin short products are witnessing pressure. BTC short products had the seventh consecutive week of external flows, with $ 1.2 million out of these funds.

Coinshares data indicates that these short bets have now lost $ 36 million over seven weeks – 40 % of their assets under management. Continuous external flows of short situations are consistent with the last price of Bitcoin.

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XRP is the only exception among alternative metal currencies, and its investment products have attracted more than $ 37 million last week, and it is the third highest level of flows throughout the year at 214 million dollars. This challenges the trend that has been observed in most of the other hills, which still face the pressure pressure.

Certainly, all of these new funds poured into Bitcoin ETF investments may be the clearest sign so far that traditional financial institutions revolve around the encrypted currency as a class asset.

We are talking about approximately one billion dollars in the market in just one day: this seems to be the dawn of a new era in which the acceptance category is accepted by the main current is greater.

Distinctive image from Wallpapers.comThe graph from Tradingview

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