Crypto investment products saw record $3.13b weekly inflow
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As Bitcoin nears $100,000, crypto investment products recorded their largest-ever weekly inflows, pushing year-to-date totals to a record $37 billion. Crypto investment funds hit another weekly inflow milestone of $3.13 billion, as total inflows since September reached $15.2 billion amid shifting interest rate policies, data from CoinShares indicates. According to a Nov. 25 research report, year-to-date inflows now stand at a record $37 billion, far outpacing early adoption of U.S. gold exhcange-traded funds, which drew $309 million in their first year. Weekly inflows in crypto-related investment products | Source: CoinShares CoinShares head of research James Butterfill says Bitcoin (BTC) accounted for the bulk of last week’s inflows, attracting $3 billion. As Bitcoin’s price neared $100,000, short-Bitcoin products saw $10 million in inflows, bringing their monthly total to $58 million, the highest level since August 2022. Mixed regional crypto sentiment Regional trends showed mixed sentiment. While U.S.-based funds saw $3.2 billion in inflows, European markets recorded net outflows of $141 million. Investors in Germany, Switzerland and other European countries appeared to capitalize on recent price highs to take profits, Butterfill noted. At the same time, markets in Australia, Canada, and Hong Kong saw positive flows, contributing $9 million, $31 million, and $30 million, respectively. Among altcoins, Solana (SOL) outpaced Ethereum (ETH), drawing $16 million in weekly inflows compared to Ethereum’s $2.8 million. XRP (XRP), Litecoin (LTC), and Chainlink (LINK) also saw notable demand, with inflows of $15 million, $4.1 million, and $1.3 million, respectively. However, multi-asset investment products faced their second consecutive week of outflows, totaling $10.5 million, per data. Source: https://crypto.news/coinshares-crypto-investment-products-saw-record-3-13b-weekly-inflow/
Filed under: News - @ November 25, 2024 1:23 pm