Cumulative Bitcoin ETF inflows crossed $17 billion on Friday.
Crypto markets gave back some of their weekend gains on Monday morning as investors mulled over the impact of U.S. President Joe Biden dropping his reelection bid.
Bitcoin dipped 0.5% to $66,900, while Ether fell 2% to $3,450. Meanwhile, Solana continued its recent outperformance with a 3% rally in the last 24 hours, briefly trading as high as $184. SOL is up 17% in the past week, compared to 7% for BTC and 3% for ETH.
Spot Bitcoin ETFs pulled in nearly $1.2 billion last week – the highest weekly inflows since early June – ahead of this week’s Bitcoin 2024 conference in Nashville, where Republican presidential candidate Donald Trump is expected to make an appearance.
According to a report from CoinShares, Ethereum investment products attracted $45 million of inflows last week, overtaking Solana for the altcoin with the most inflows year-to-date. Spot Ethereum ETFs are widely expected to commence trading tomorrow.
Among the top 100 digital assets by market capitalization, modular blockchain Celestia (TIA) and Solana-based memecoin Dogwifhat (WIF) are the day’s top gainers, rallying 11% and 7%, respectively.
Roughly 80% of the top 100 tokens are down on the day, with Popcat, Arweave (AR), Bitcoin (NOT) and Bittensor (TAO) slipping 5% or more.
