Inflows into crypto-related investment products continued for the third consecutive week, with $1.2 billion flowing into the sector, according to the report. coinshares Latest weekly report.
James Butterfill, head of research at CoinShares, said the large inflows were due to expectations of dovish monetary policy in the US and positive market momentum. As a result of these factors, total assets under management increased 6.2% to $92.7 billion.
US stock exchange Committee approved Options trading for BlackRock's Spot Bitcoin ETF also boosted market sentiment. Despite this inflow, the sector's weekly trading volume fell by 3.1%.
Bitcoin's dominance continues
A CoinShares report showed that Bitcoin continues to dominate flows, with investors pouring $1 billion into BTC-related investment products.
This could be related to its solid price performance and improved inflows to the Spot Bitcoin ETF product over the past week. In particular, funds managed by Bitwise, BlackRock, Fidelity and Ark 21 Shares all performed well during the reporting period.
However, Grayscale's crypto fund continued its net outflow trend, with total assets declining to $21.2 billion.
Meanwhile, $8.8 million inflows into short Bitcoin products accelerated as some investors expected the current bull market to weaken, with BTC recently trending higher near $65,000. .
Regionally, opinions were divided. The United States topped the list with $1.2 billion in inflows, followed by Switzerland with $84 million. In contrast, Germany and Brazil had outflows of $21 million and $3 million, respectively.
Ethereum breaks the negative chain.
Ethereum-related products ended a five-week streak of outflows, bringing in $87 million, the largest inflow since early August.
According to data from SosoValue, the Spot Ethereum ETF's weekly flows were the second highest since its launch in July.
Meanwhile, results for large-cap alternative digital assets were mixed. Litecoin and XRP recorded inflows of $2 million and $800,000, respectively. Meanwhile, Solana and Binance faced outflows of $4.8 million and $1.2 million.
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