Crypto investment products hit $46B AUM maintaining record 10 week inflow streak Crypto investment products hit $46B AUM maintaining record 10 week inflow streak
Crypto investment products have recorded $1.76 billion worth of inflows during the past 10 weeks.
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Updated: Dec. 4, 2023 at 3:11 pm UTC
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The total value of assets under management for crypto-related investment products surged 107% to $46.2 billion on the heels of the tenth consecutive week of inflows recorded by these products.
Per CoinShares’ weekly report, crypto products recorded a robust inflow of $176 million during the past week, bringing its total for the 10-week influx to an impressive $1.76 billion. The asset manager noted this sustained influx is the most substantial since Oct.2021, coinciding with the launch of a futures-based ETF in the United States.
Notably, these inflows have amplified Exchange Traded Products (ETP) trading volumes to around $2.6 billion, constituting 12% of Bitcoin’s (BTC) overall trading volumes.
The run of inflows can be attributed to the market optimism surrounding the potential approval of a spot Bitcoin ETF in the U.S. During the past months, several established financial institutions, including BlackRock, applied for a spot Bitcoin ETF with the Securities and Exchange Commission (SEC).
This unfolding scenario and the SEC’s active interactions with the applicants have heightened market anticipation about a possible approval for the numerous applications.
Bitcoin dominates inflows
Bitcoin remains a major beneficiary of the interest in the market, recording a substantial inflow of $133 million last week. Short-Bitcoin products reversed their three-week outflow trend to register a $3.6 million influx.
The inflow into short BTC products could be linked to the recent bullish performance of the top cryptocurrency, breaking the $41,000 barrier earlier today, Dec. 4, amid a persisting strong market performance.
Similarly, Ethereum (ETH) observed a notable inflow of $31 million last week, marking a five-week streak of $134 million. Consequently, Ethereum has reversed its prolonged negative sentiment, achieving a net inflow of $10 million for the year.
In contrast to the positive trends, Litecoin (LTC) stood as the only asset to experience an outflow last week, tallying around $0.2 million in negative movement amidst the overall surge in digital asset investments.
Across regions, last week’s influx was primarily fueled by investors from Canada, Germany, and the U.S., contributing $79 million, $57 million, and $54 million, respectively.
Conversely, investors from Hong Kong caused a $15 million outflow from the market. While the Asian market remains relatively small, it is the only region witnessing a year-to-date net outflow.
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Posted In: Bitcoin, Ethereum, Litecoin, BlackRock, Asia, Canada, Germany, Hong Kong, US, Investments
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,117.23
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Litecoin
$86.9050
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.