Crypto investment products hit 9-week high of inflows with $346M

6:38 am
November 28, 2023

**Summary:**
Cryptocurrency investment products have experienced a significant surge in inflows, reaching a 9-week high of $346 million, according to a report released by digital assets management firm CoinShares. The report indicates a notable increase in investment confidence, with $312 million flowing into Bitcoin-related exchange-traded products and $34 million into Ethereum. This spike in inflows has propelled the total assets under management in cryptocurrency funds to $45.4 billion, marking the highest level since May last year.

**Crypto Investment Products Record 9-Week High in Inflows, Reaching $346 Million**
Recently, cryptocurrency investment products have witnessed a substantial increase in inflows, hitting a 9-week high of $346 million. This surge is detailed in a weekly report by CoinShares, a digital assets management firm. James Butterfill, the firm’s head of research, emphasized the significance of last week’s inflows in crypto exchange-traded products, labeling it as the “highest total observed in the past 9 weeks.”

The analysis points out that the influx of funds into crypto products is at its peak since the last bull market, indicating a positive trend in net inflows. The sentiment surrounding the potential approval of a spot-based ETF in the United States is likely to sustain this trend. According to the report, the total inflows for the week ending November 24 amounted to $346 million, reflecting a remarkable resurgence in investment confidence.

**Bitcoin ETPs and Altcoins Inflows**
The data revealed that Bitcoin products attracted the largest portion of the inflows, with a staggering $312 million recorded in weekly inflows. Moreover, the report highlighted a year-to-date inflows total of $1.5 billion for the flagship cryptocurrency. Conversely, short Bitcoin products experienced outflows of $0.9 million.

Aside from Bitcoin, other altcoins also experienced a resurgence in inflows. Ethereum saw an influx of $34 million, while Solana, Polkadot, and Chainlink witnessed $3.5 million, $0.8 million, and $0.6 million, respectively. CoinShares noted that Ethereum has been on a 4-week run, accumulating a total of $103 million, indicating a significant shift in sentiment.

**Total Assets Under Management and Yearly Inflows**
The substantial influx of funds into crypto investment products has propelled the total assets under management in crypto funds to $45.4 billion, marking the highest level since May last year. Earlier this month, total year-to-date cryptocurrency ETP inflows surpassed the $1 billion mark, signifying a remarkable uptrend in investment activities within the cryptocurrency market.

**FAQs**

1. **What are ETP inflows?**
ETP inflows refer to the amount of money flowing into exchange-traded products within the cryptocurrency market. This signifies an increase in investor interest and investment activities within the crypto space.

2. **What does the surge in inflows indicate?**
The surge in inflows indicates a resurgence in investment confidence and interest in cryptocurrencies, specifically in leading assets such as Bitcoin and Ethereum. It also suggests a positive trend in net inflows and a potentially favorable market sentiment.

3. **What impact have the inflows had on the total assets under management in crypto funds?**
The substantial inflows have elevated the total assets under management in crypto funds to $45.4 billion, marking the highest level since May last year.

4. **How significant is the milestone of total year-to-date cryptocurrency ETP inflows surpassing the $1 billion mark?**
The milestone signifies a notable uptrend in investment activities within the cryptocurrency market, reflecting a growing investor interest in crypto investment products.

5. **What factors have contributed to the resurgence in inflows for Ethereum?**
Factors such as a decisive turn-around in sentiment, potentially influenced by recent events including the filing of a spot Ethereum ETF by BlackRock, have contributed to the resurgence in inflows for Ethereum.


Share:

More in this category ...

11:58 am February 23, 2024

730K Investors Exit Despite Record $7B Inflows

Featured image for “730K Investors Exit Despite Record $7B Inflows”
10:49 am February 23, 2024

Tokenized Securities: Understanding the Impact on Traditional Financial Markets

7:08 am February 23, 2024

Enhance Your Technical Team’s Skills with Practical Technology Training

3:19 am February 23, 2024

Blockchain 101: An Essential Guide for Artists and Creators on Copyright Protection

3:05 am February 23, 2024

Binance Labs invests in EigenLayer restaking protocol Renzo

12:01 am February 23, 2024

Is Bitcoin’s Bullish Streak Sustainable?

Featured image for “Is Bitcoin’s Bullish Streak Sustainable?”
7:53 pm February 22, 2024

Paris Saint-Germain (PSG) Becomes First Football Club to Officially Validate a Blockchain

7:46 pm February 22, 2024

Innovations in Music Distribution: Understanding Decentralized Streaming Protocols

7:28 pm February 22, 2024

Operationalizing Ethical AI in Defense: A Holistic Approach

12:41 pm February 22, 2024

JasmyCoin rallies 295% as Bitcoin Dogs take the crypto stage by storm

12:14 pm February 22, 2024

The Future of Diamond Trading: Disrupting Traditional Channels with Blockchain

12:03 pm February 22, 2024

Apecoin Climbs To 6-Month High Amidst Whales’ Strategic Moves

Featured image for “Apecoin Climbs To 6-Month High Amidst Whales’ Strategic Moves”
7:50 am February 22, 2024

Polygon and StarkWare unveil Circle STARKs to streamline Zk Proofs

5:29 am February 22, 2024

Lido adds support for 1inch as withdrawal aggregator

4:44 am February 22, 2024

Unlocking the Value of Tokenized Data in Health Research and Analytics

12:05 am February 22, 2024

Is Ethereum Overvalued, Similar ‘To Meme Coins Like Shiba Inu’?

Featured image for “Is Ethereum Overvalued, Similar ‘To Meme Coins Like Shiba Inu’?”
10:17 pm February 21, 2024

Binance Introduces Portal (PORTAL) to Launchpool for Crypto Gaming

9:15 pm February 21, 2024

Smart Contracts and Blockchain: Transforming Sustainable Supply Chains

3:03 pm February 21, 2024

Brad Garlinghouse Optimistic about Ripple’s Future, Says Ripple Will Welcome XRP ETF

1:44 pm February 21, 2024

From Trust to Security: The Case for Decentralized Identity Management Systems

12:08 pm February 21, 2024

Render Token Surges 60% In a Month, Gains Traction with Investors

Featured image for “Render Token Surges 60% In a Month, Gains Traction with Investors”
8:29 am February 21, 2024

Climate change predictions: Anticipating and adapting to a warming world

7:51 am February 21, 2024

Starknet’s STRK sees volatile market debut following airdrop

6:14 am February 21, 2024

Securing the Food Supply: How Blockchain is Combating Counterfeit Products

12:39 am February 21, 2024

Analysts say $3k “a relatively small obstacle”

12:11 am February 21, 2024

Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge

Featured image for “Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge”
10:44 pm February 20, 2024

The Potential of Tokenized Derivatives: Unlocking New Opportunities for Investors

8:40 pm February 20, 2024

How IBM is using Real User Monitoring and DNS to deliver premium Global Server Load Balancing for business-critical applications 

5:27 pm February 20, 2024

Human Institute Teams Up with Polygon Labs and Animoca Brands to Introduce ZKP-Powered Palm Recognition Technology

3:16 pm February 20, 2024

The Future of E-Commerce: Unleashing the Potential of Blockchain Technology