The data shows that the Bitcoin boxes circulated on the stock exchange (ETFS) belong to the positive days, but the ETHEREUM boxes still lead the market.
Bitcoin 3,018 BTC’s investment funds in the net flow last week witnessed
In a new publication on X, Analytics Glassnode spoke about the latest trends in weekly flows related to the Classification of Investment Funds circulating in the United States BTC. “ETFS immediate” refers to investment vehicles that are trading on traditional platforms that allow investors to obtain indirect exposure to the basic asset such as Bitcoin or Ethereum.
In the case of encrypted currencies, the main call to the immediate investment fund qualifiers is that it provides an organized road outside the chain. This means that investors who are not aware of the governor of digital assets and exchanges can also invest in the space.
While the demand for the Bitcoin Spot investment funds were strong, it was more confused. Below is a joint scheme by Glassnode that shows the direction in the weekly Netflow of these investment compounds during the past few months.
The value of the metric appears to have turned positive in the past week | Source: Glassnode on X
As shown in the graph above, I noticed the investment funds circulating at Bitcoin US Bitcoin large net flows between April and July, but then a shift occurred with the start of external flows instead.
Before last week, BTC witnessed external flows in three of the previous four weeks. Although Netflow had returned to positive last week, its value was only 3,018 BTC ($ 329 million at the current exchange rate).
However, the return to Green came alongside a decrease in the price of encoded currency, so even small flows are a positive indication of institutional demand on BTC. However, the currency that witnessed remarkable attention was Ethereum, the digital assets that ranked second by the maximum market.
The trend in the US spot ETF netflow for ETH | Source: Glassnode on X
From the graph, it is clear that the investment funds circulated in the United States Ethereum witnessed negative flows in the previous week, but as with Bitcoin, the last week has restored flows.
Unlike BTC, external flows were an exception to the ETH direction; The cryptocurrency boxes were on a 14 -week net flow line before the wave of negative flows.
Some of the nails during which they witnessed a very huge line, indicating that the institutional entities were making noticeable bets on the original. The latest positive Netflow was large, as it clings to 2.2.,000 ETH (about $ 1.2 billion at the present time) in the portfolio associated with the instant investment fund classifications.
BTC price
Bitcoin has faced Haboodi winds since it has ever put on the early month of the month, which has increased to the level of 109200 dollars.
Looks like the price of the coin has been on the way down in the past few days | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
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