Cointelegraph
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Bitcoin the ‘main Beneficiary’ As Crypto Funds Notch 10-week Streak
Bitcoin (BTC)-related investment products have become the “main beneficiary” of recent investor interest in crypto, amid growing anticipation of a spot Bitcoin ETF approval in the United States.
A total of $1.76 billion of investors’ funds have flowed into crypto products over a 10-week period, making up for the largest inflows over such a period since October 2021 — when Bitcoin futures w launched, according to a Dec.
Record inflows! Last 10 weeks now total U$1.76bn inflows, the highest on record since October 2021’s futures-based ETF launch in the US.Week 49 inflows: U$176 million– #Bitcoin – $BTC: U$133m inflows Short Bitcoin: US$3.6m inflows Trading volumes in ETPs remain… pic.twitter.com/Elon1F2pHl
— CoinShares (@CoinSharesCo) December 4, 2023
CoinShares’ weekly reports over the past 10 weeks shows at least $1.44 billion of inflows went to Bitcoin investment products over the period, as the price of Bitcoin has gained from $26,600 to $37,700 on Dec.
Meanwhile, the latest week ending Dec. Bitcoin (BTC) investment products were the “main beneficiary,” said Butterfill, recording $132.8 million of inflows over the past week, while Ether (ETH) and Solana (SOL) products tallied $30.8 million and 4.3 million, respectively.
Digital asset flows (in millions) week by week in 2023. Source: CoinShares
Related: Bitcoin prices should ‘logically’ correct in January, but crypto’s a ‘wild card’
The inflows come as spot Bitcoin ETF applications are inching closer toward potential approval in the U.S.
Some Bitcoin futures-based products could be reaping benefits of the recent excitement over approvals, said James Edwards, cryptocurrency analyst at fintech firm Finder in a previous interview with Cointelegraph.
Read more
A total of $1.76 billion of investors’ funds have flowed into crypto products over a 10-week period, making up for the largest inflows over such a period since October 2021 — when Bitcoin futures w launched, according to a Dec.
Record inflows! Last 10 weeks now total U$1.76bn inflows, the highest on record since October 2021’s futures-based ETF launch in the US.Week 49 inflows: U$176 million– #Bitcoin – $BTC: U$133m inflows Short Bitcoin: US$3.6m inflows Trading volumes in ETPs remain… pic.twitter.com/Elon1F2pHl
— CoinShares (@CoinSharesCo) December 4, 2023
CoinShares’ weekly reports over the past 10 weeks shows at least $1.44 billion of inflows went to Bitcoin investment products over the period, as the price of Bitcoin has gained from $26,600 to $37,700 on Dec.
Meanwhile, the latest week ending Dec. Bitcoin (BTC) investment products were the “main beneficiary,” said Butterfill, recording $132.8 million of inflows over the past week, while Ether (ETH) and Solana (SOL) products tallied $30.8 million and 4.3 million, respectively.
Digital asset flows (in millions) week by week in 2023. Source: CoinShares
Related: Bitcoin prices should ‘logically’ correct in January, but crypto’s a ‘wild card’
The inflows come as spot Bitcoin ETF applications are inching closer toward potential approval in the U.S.
Some Bitcoin futures-based products could be reaping benefits of the recent excitement over approvals, said James Edwards, cryptocurrency analyst at fintech firm Finder in a previous interview with Cointelegraph.
Read more
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
98,744.75
+1.02%
ETH
3,636.22
+0.64%
BNB
718.71
+1.56%
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