Institutions buy the crypto dip 🛒

Institutions have been scooping up crypto following this week's rout.

Author

Stephen Graves
August 07, 2024

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📝 What you need to know

Institutions have been scooping up crypto following this week's rout, according to crypto trading firm FalconX, which tracked trades from proprietary trading desks, hedge funds, venture funds, and retail aggregators.

Investors also poured money into U.S. spot Ethereum ETFs, which saw their biggest day of inflows in ETH terms—though the market downturn meant that the dollar value of those inflows didn’t match those of their first day trading.

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