Investing in the number one cryptocurrency bitcoin has increased tremendously after the introduction of ETFs in cryptocurrency futures in the US. There was a strong investment of $1.47 billion in crypto funds and other assets last week. Because of this, the AUM of crypto assets reached $ 79.2 billion. However, at the end of the week it decreased slightly and it stood at $ 76.7 billion.
Investing in cryptocurrencies intensifies as soon as ETFs in bitcoin are approved
According to digital asset management firm CoinShares’ weekly, its price rose sharply after the US market regulator US Securities and Exchange Commission (SEC) approved the bitcoin ETF. For this reason, the AUM of cryptocurrencies has increased.
Bitcoin alone had 99 percent of the investment in cryptocurrencies last week. Investment in bitcoin amounted to $1.45 billion. Apart from this, investors also invested heavily in Solano, Cardano and Binance. These included investments of $ 8.1, 5.3 and 1.8 million respectively. Investments in Litecoin, Polkadot, Ripple and Bitcoin Cash increased, while investors in Ethereum decreased investment. Due to this, investors pulled out funds for the third consecutive week.
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Record of weekly investment in bitcoin was made in February
Earlier, the biggest record weekly investment in bitcoin was made in February this year, when a record investment of $ 640 million was made in it. So far this year, $8 billion has been invested in it. Last year this investment was $ 7.6 billion.
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