{"id":183883,"date":"2023-10-30T23:35:38","date_gmt":"2023-10-30T18:05:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183883"},"modified":"2023-10-30T23:35:38","modified_gmt":"2023-10-30T18:05:38","slug":"inflows-into-crypto-investment-products-reach-highest-level-in-15-months-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/inflows-into-crypto-investment-products-reach-highest-level-in-15-months-crypto-news\/","title":{"rendered":"Inflows into crypto investment products reach highest level in 15 months – Crypto News"},"content":{"rendered":"

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Inflows into crypto investment products rose to a 15-month high amid the recent optimism surrounding the anticipated approval spot Bitcoin (BTC<\/a>) exchange-traded funds (ETFs) in the U.S.<\/p>\n

In its latest weekly report, CoinShares revealed<\/a> that crypto investment products recorded an inflow of $326 million last week, its largest since July 2022.<\/p>\n

This influx marks the fifth consecutive week of investments in crypto products. As a result, the inflow from the previous week has elevated the month-to-date total to approximately $484 million. Furthermore, it has driven the overall assets under management to $37.8 billion, its highest point since May 2022.<\/p>\n

James Butterfill, CoinShares\u2019 senior analyst, attributed this period of sustained inflows to the \u201crising optimism from investors that the US Securities and Exchange Commission is poised to approve a spot-based Bitcoin ETF.\u201d<\/p>\n

He added:<\/p>\n

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\u201cA\u00a0spot-based ETF is now highly likely in the coming months, and will represent a step-change for the industry from a regulatory perspective.\u201d<\/p>\n<\/blockquote>\n

Bitcoin, Solana win as Ethereum continues to record outflows<\/span><\/p>\n

The report stated that Bitcoin\u00a0and Solana (SOL<\/a>) products continue to attract notable investments from investors, while Ethereum faces its third consecutive week of capital outflows.<\/p>\n

Bitcoin remains the primary beneficiary of the inflow, raking in $296 million, which constitutes about 90% of the total investment for the past week. Furthermore, short BTC investment products also saw inflows of around $15 million as the top digital asset\u2019s recent improved price performance<\/a> attracted investors who think the rally might not continue.<\/p>\n

Meanwhile, Solana continues challenging Ethereum\u2019s dominance as the preferred altcoin<\/a> for investors, recording a $24 million inflow last week. On the other hand, ETH saw outflows amounting to $6 million, taking its year-to-date flow to -$125 million.<\/p>\n

Despite the buzz 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 marked its largest weekly influx with $28 million in investments.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Inflows into crypto investment products rose to a 15-month high amid the recent optimism surrounding the anticipated approval spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. In its latest weekly report, CoinShares revealed that crypto investment products recorded an inflow of $326 million last week, its largest since July 2022. This influx marks the […]<\/p>\n","protected":false},"author":2,"featured_media":183884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-183883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183883"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183883\/revisions"}],"predecessor-version":[{"id":183886,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183883\/revisions\/183886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183884"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}