Bitget Futures Market Update
Bitget2024/06/11 03:52
By:Bitget
Bitcoin Bags $2B Inflows, Ether Sees Highest Institutional Buying Since March
Crypto investment products took on nearly $2 billion in inflows last week to help extend a five-week run to over $4.3 billion, asset manager CoinShares said in a Monday report.
Trading volumes in exchange-traded products (ETPs) rose to $12.8 billion for the week, up 55% from the week prior. Bitcoin led investment activity at over $1.97 billion inflows for the week, while ether (ETH) saw its best week of inflows since March at nearly $70 million.
Buying activity for spot
bitcoin exchange-traded funds (ETFs) in the U.S. has picked up since mid-May after a dismal few weeks in April, which saw days of zero net inflows across all products and even outflows from major products such as BlackRock's IBIT. However, inflows have since picked up - with IBIT becoming the largest
bitcoin ETF last week amassing over $20 billion worth of the asset since its January issuance.
Meanwhile, some traders expect the inflows into ETH products to continue in the coming months, with a rally expected toward the end of the year.
Source: CoinDesk
Futures market Updates
Slightly more bullish sentiment is reflected in the volume and
funding rates.
Bitcoin Futures Updates
Total BTC Open Interest: $36.47B (-0.67%)
BTC Volume (24H): $43.42B (+113.38%)
BTC Liquidations (24H): $21.35M (Long)/$6.14M (Short)
Long/Short Ratio: 48.81%/51.19%
Funding Rate: 0.0087%
Ether Futures Updates
Total ETH Open Interest: $16.23B (+0.12%)
ETH Volume (24H): $18.99B (+111.64%)
ETH Liquidations (24H): $28.94M (Long)/$2.74M (Short)
Long/Short Ratio: 47.81%/52.19%
Funding Rate: 0.0099%
Top 3 OI Surges
GNO: $1.67M (+199.25%)
LEVER: $38.60M (+128.61%)
SUN: $995.13K (+48.08%)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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