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1 Week ago it was funny, besides Bitcoin, it turns out that these 2 cryptos are Joss

GenPI.co – CoinShare presented data, the entry of crypto investments during the last week ending October 8, 2021, amounted to USD 226.2 million.

Positive investment inflows were recorded for the eighth week in a row, as revealed by the digital asset manager on Tuesday (12/10).

With this, the total inflow of crypto products so far this year is USD 6.3 billion.

READ ALSO: Bitcoin Starts to Step on the Brakes, This Crypto is Even Faster

As expected, Bitcoin took the lead and earned USD 225 million US dollars.

“We believe the turnaround in sentiment towards Bitcoin was due to the constructive remarks of US Securities and Exchange Commission (SEC) Chairman Gary Gensler, potentially allowing Bitcoin ETFs (exchange traded funds) in the US,” wrote James Butterfill, CoinShares Investment Strategist in the report.

READ ALSO: These 2 Cryptos Are Predicted To Be Like Bitcoin In October 2021

As is well known, at the Financial Times conference a few weeks ago, SEC Chair Gensler reiterated his support for Bitcoin ETFs that would invest in futures contracts instead of the digital currency itself.

With the statement, Bitcoin surged to a five-month high of around USD 57,000 on Monday, fueled by persistent institutional demand. Because it gains legitimacy among investors.

READ ALSO: The Role of Gold is Haunted by Bitcoin Crypto, Take a Peek at JP Morgan’s Notes

On Wednesday (13/10), at 14:44 WIB, quoted from the coinmarketcap page, the price of Bitcoin was at USD 54,716.

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