Inflows into Bitcoin investment products reach $1.5B year-to-date

Inflows into Bitcoin investment products reach $1.5B year-to-date


Bitcoin (BTC) exchange-traded products (ETPs) registered $312 million in inflows for the week of Nov. 24, bringing year-to-date inflows to around $1.5 billion, according to CoinShares. The weekly inflows for all cryptocurrencies totaled $346 million, continuing a nine-week trend of positive net flows.

Crypto ETPs experience inflows when their shares trade above the prices of their underlying assets, whereas they experience outflows when their shares trade below the value of their underlying assets. For this reason, inflows are often seen as a bullish indicator for the overall crypto market, whereas outflows are often seen as bearish.

Before Sept. 25, crypto ETPs had experienced outflows for several weeks, according to the report. But beginning in the week of Sept. 25–29, the sector began experiencing sustained weekly inflows. The amount of inflows also increased over time. The week ending on Nov. 24 saw the largest inflows of the entire nine-week period.

Weekly crypto asset flows for the 47 weeks ending Nov. 24. Source: Coinshares

CoinShares stated that Canadian and German ETPs made up the largest portion of inflows for the week, at 87%. United States inflows were subdued at $30 million.

Ledger

Crypto funds as a whole now have $45.4 billion in assets under management, the highest in 18 months. 

In a previous report, CoinShares speculated that these recent inflows may be influenced by growing optimism that a U.S. spot Bitcoin ETF will be approved. On Nov. 22, BlackRock met with the U.S. Securities and Exchange Commission in an attempt to make progress toward this goal. Grayscale met with the SEC for similar reasons.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Crypto-Trend
Binance
Crypto-Trend
Inflows into Bitcoin investment products reach $1.5B year-to-date
Ledger
Ledger
$11B Bitcoin Whale Returns After 2 Months, Transfers $360M BTC
How XRP’s Regulatory Clarity Opened the Doors to Institutional Adoption
XEC Founder Outlines Instant-Finality Plan Using Avalanche Pre-Consensus
Bitcoin's $125k Record Fueled By US Gov't Shutdown, Macro Factors: Analysts
Permissionless Finance Will Triumph Over Government Regulation: Fold CEO
Samsung, Coinbase Global Expansion Targets 1B Galaxy Users
bitcoin
ethereum
tether
binancecoin
solana
ripple
usd-coin
staked-ether
dogecoin
binance-usd
Binance
Ledger
CLS Mining Launches a New Smart Contract System
Timothy Peterson puts Bitcoin price forecast at $140,000
What If Satoshi’s $100B Bitcoin Moves? Here’s What Could Happen
Bitcoin Miners Feast While Crypto Market Fumbles — IREN, Cipher, and Cleanspark Rise Above
Coinbase Debuts Crypto Staking in New York, Citing Deal With State Regulators
CLS Mining Launches a New Smart Contract System
Timothy Peterson puts Bitcoin price forecast at $140,000
What If Satoshi’s $100B Bitcoin Moves? Here’s What Could Happen
Bitcoin Miners Feast While Crypto Market Fumbles — IREN, Cipher, and Cleanspark Rise Above
bitcoin
ethereum
tether
binancecoin
solana
ripple
usd-coin
staked-ether
dogecoin
binance-usd
bitcoin
ethereum
tether
binancecoin
solana
ripple
usd-coin
staked-ether
dogecoin
binance-usd