A Bitcoin logo on the doors of the Paralelni Polis venue in Prague, Czech Republic, on Tuesday, May 17th, 2022. (Photo: Milan Jaros/Bloomberg) Crypto investment products across the board saw $1.35 billion in gains, marking the third straight week of inflows, according to CoinShares. The streak of positive gains comes amid a rebound in the price of Bitcoin after it bottomed out at less than $54,000 on July 5, its lowest price since February.
Since then, the world’s largest cryptocurrency has leaped about 25% to around $67,300 as Bitcoin investors eye the increased odds of Donald Trump becoming president.
The Bitcoin funds of BlackRock and Fidelity saw the biggest gains last week and took in $707 million and $244 million, respectively. Grayscale’s fund continued its streak of outflows and lost about $56 million.
Ether products took in $45 million last week after gaining $72 million the week prior. Alternative cryptocurrencies Solana, Litecoin and Cardano posted inflows of $9.6 million, $2.2 million and $400,000, respectively.