Cryptocurrency funds raise $1 billion in a week; Brazil performs well

Source: PortaldoBitcoin Original Title: Cryptocurrency funds raise $1 billion in a week; Brazil performs well Original Link: Cryptocurrency funds recorded inflows of $1.06 billion last week, marking a reversal in sentiment after four consecutive weeks of outflows totaling $5.7 billion. Brazil followed the strong global performance, and domestic products had a surplus of $9.7 million, according to data from CoinShares' weekly report.

According to the analysis firm, the change in sentiment follows the comments of FOMC member (, John Williams, who is part of the FED body that sets interest rate policy, stating that monetary policy remains tight, raising expectations for an interest rate cut this month.

Lower interest rates reduce the profitability of investments in Treasury bonds and favor the pursuit of riskier assets, such as cryptocurrencies. When it comes to the U.S. economy, the impact of this decision is global and resonates across all sectors of the economy.

Trading volumes in digital asset funds for the week were low, at $24 billion, likely due to the Thanksgiving holiday, in stark contrast to the previous week, which recorded the highest volumes in history, at $56 billion.

Despite the Thanksgiving holiday, the United States had inflows totaling US$ 994 million last week, with significant inflows from Canada )US$ 97.6 million( and Switzerland )US$ 23.6 million(. On the other hand, Germany was one of the few countries to record outflows, totaling US$ 57.3 million.

Performance by country: ![])https://img-cdn.gateio.im/webp-social/moments-becae359aa-927a56b4f6-153d09-6d5686.webp(

Performance by asset type

In the asset type breakdown, Bitcoin funds saw $461 million in inflows last week, as investors reversed bets on further price declines, as indicated by the $1.9 million in outflows from short-bitcoin ETPs ). Ethereum also benefited from the improved sentiment, with inflows of $308 million last week.

XRP recorded the largest weekly inflows ever, totaling $289 million, with the streak of inflows over the last six weeks representing 29% of assets under management (AuM), likely associated with the recent ETF launches in the US. On the other hand, Cardano recorded outflows of $19.3 million, equivalent to 23% of its AuM.

Performance of funds by asset type:

Performance by product

In the analysis by specific products, a surprise: BlackRock's iShares, the largest Bitcoin ETF that always leads the ranking, came in third with inflows of $120 million. In first place was the Fidelity Wise Bitcoin, which attracted $230 million. In second place is the Volatility Shares Trust, with $160 million.

On the loss side, the negative highlight was the Bitwise Funds Trust, which recorded outflows of US$ 18 million.