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Amidst the complex and overwhelming market information, what truly matters? "Gate Web3 Daily Highlights" aims to provide you with the essentials. We curate the most important global crypto market news every day to help you quickly grasp key trends, save time, and gain early insights.
1. Crypto Market Rally Returns, ETF Inflows Hit $1.1 Billion—Highest in 7 Weeks
KobeissiLetter released a market analysis noting that cryptocurrency ETFs are making a comeback. Last week, crypto funds saw $1.1 billion in inflows, the highest in 7 weeks, marking a reversal after 4 consecutive weeks of outflows totaling $4.7 billion. US crypto ETFs led with $994 million in inflows, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw $57 million in outflows. Bitcoin led the inflows with a net inflow of $461 million, followed by ETH with $308 million. Meanwhile, investors withdrew $1.9 billion from short Bitcoin ETPs. The momentum in the crypto market is returning.