According to PANews, a report released by Bank of America's Global Research Department on Friday revealed that investors injected the most funds into tech stocks since August last year and doubled their investments in cryptocurrencies during the week ending Wednesday.
Citing data from EPFR, the bank stated that inflows into tech stocks reached $4.7 billion, the highest level since August last year, with annualized fund inflows expected to set a new record of $98.8 billion. As investors flocked to exchange-traded funds, the inflow of cryptocurrency funds in the past week increased from $1.2 billion the previous week to $2.4 billion, helping to push Bitcoin to a new all-time high.