The cryptocurrency market is back on the rise, with ETF inflows reaching $1.1 billion, the highest in seven weeks

Cryptocurrency ETFs are making a comeback, with cryptocurrency funds recording an inflow of $1.1 billion last week, the highest in seven weeks, marking a reversal from the previous four-week cumulative outflow of $4.7 billion.

U.S. cryptocurrency ETFs topped the list with an inflow of $994 million, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw an outflow of $57 million. Bitcoin led the inflows with a net inflow of $461 million, followed by ETH with a net inflow of $308 million. Meanwhile, investors withdrew $1.9 billion from short Bitcoin ETPs. The upward momentum of cryptocurrencies is returning.