Crypto investors park $1.4b in digital asset vehicles 

Bitcoin and the US led the capital inflow into crypto-backed products as investors seized the opportunity in the low-cost market.

Investors parked $1.44 billion worth of crypto instruments and $1.35 billion flowed into Bitcoin (BTC) ETFs in the U.S. and elsewhere, according to CoinShares research. These figures marked Bitcoin’s fifth-largest weekly inflow and brought total crypto product inflows for 2024 to $17.8 billion.

Altcoins like Ethereum (ETH) have also benefited from positive investor interest, attracting $72 million in the past week since March. This year’s inflows surpass 2021’s $10.6 billion and continue to set new records for digital asset investment.

Cryptocurrency markets are on the rise again

Cheaper crypto prices seen over the past week have encouraged investors to spend money on digital asset investment products, leading to a market rally recorded on Monday, with total crypto market caps up 3.9% to $2.4 trillion. Bitcoin’s 5.2% gain in 24 hours has seen the token reclaim $62,500, narrowing the gap from its March peak to 15%.

According to the Crypto.news price pages, major altcoins like Ethereum, BNB, and Solana (SOL) followed suit with more than 5% price increases. Overall, market sentiment also improved and remained neutral at press time. The crypto fear and greed index showed 52 points, a rebound from the market fears recorded last week.

Researchers at QCP Capital suggested that the market rally was triggered by the failed assassination of Donald Trump and confidence that the pro-crypto presidential candidate has a better chance of being elected than Joe Biden. The firm also cited German authorities’ sell-offs. Here’s an excerpt from the QCP report:

“We think the market was already positioned for a rally, with the German government running out of supply and also large hedge funds aggressively buying calls last week. Trump was the perfect trigger for a market that was eager to go long.”