HomeEtherumCrypto investment product inflows surge to the highest point in 15 months

Crypto investment product inflows surge to the highest point in 15 months

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Inflows into crypto investment products reached a 15-month high due to optimism surrounding the potential approval of Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S.

According to CoinShares’ latest weekly report, crypto investment products received a total inflow of $326 million last week, the largest amount since July 2022.

This marks the fifth consecutive week of investments in crypto products, bringing the month-to-date total to approximately $484 million and increasing the overall assets under management to $37.8 billion, the highest since May 2022.

James Butterfill, senior analyst at CoinShares, attributed this sustained inflow to investors’ growing optimism about the potential approval of a spot-based Bitcoin ETF by the U.S. Securities and Exchange Commission. 

Butterfill stated, “A spot-based ETF is now highly likely in the coming months, and will represent a step-change for the industry from a regulatory perspective.”

Bitcoin and Solana attract investments while Ethereum faces outflows

The report highlights that Bitcoin and Solana (SOL) products continue to attract significant investments, while Ethereum experienced its third consecutive week of capital outflows.

Bitcoin received the majority of the inflow, with $296 million, accounting for about 90% of the total investment for the week. Additionally, short BTC investment products saw inflows of approximately $15 million as investors were attracted by the improved price performance of the top digital asset but were cautious about its sustainability.

Meanwhile, Solana is challenging Ethereum as the preferred altcoin for investors, with an inflow of $24 million last week. On the other hand, Ethereum experienced outflows of $6 million, bringing its year-to-date flow to -$125 million.

Despite the excitement surrounding the launch of a spot Bitcoin ETF in the U.S., the country contributed only $38 million to the overall outflow. In contrast, Canada, Germany, and Switzerland saw significant inflows of $134 million, $82 million, and $50 million, respectively. Additionally, Asia experienced its largest weekly influx with $28 million in investments.

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