7 months ago
Cryptocurrency investors continued pouring monolithic inflows into integer concern products past week amid post-election marketplace momentum.
Crypto concern products saw $1.98 cardinal successful inflows from Nov. 3–9, pushing planetary assets nether absorption to a grounds precocious of $116 billion, CoinShares reported connected Nov. 11.
This marks the 5th consecutive week of inflows, totaling $7.7 cardinal — 24% of the $31.3 cardinal recorded successful 2024 truthful far.
Bitcoin ETF trading successful the US leads the inflows
In enactment with erstwhile CoinShares reports, spot Bitcoin (BTC) exchange-traded funds (ETF) trading successful the United States led the inflows successful crypto products past week.
Bitcoin saw inflows of $1.8 billion, with BTC products reaching $9 cardinal successful inflows since the US Federal Reserve cut involvement rates for the archetypal time successful 4 years successful September.
Flows by assets (in millions of US dollars). Source: CoinShares
“A operation of a supportive macro situation and seismic shifts successful the US governmental strategy being the apt crushed for specified supportive capitalist sentiment,” CoinShares probe manager James Butterfill wrote successful the update.
Regionally, astir inflows came from the US, totaling $1.95 billion. Europe saw insignificant inflows, with Switzerland and Germany contributing $23 cardinal and $20 million, respectively.
On the different hand, investors successful Sweden continued to sell, with play outflows amounting to $25.7 million.
Ether ETFs spot largest inflows since launch
Amid affirmative crypto sentiment, spot Ether (ETH) ETFs saw their biggest week aft seeing mean request previously.
In the archetypal week of November, Ether ETFs saw inflows of $157 million, the largest inflow since the first Ether ETFs started trading successful July, marking a notable betterment successful sentiment.
A scope of altcoins saw inflows arsenic well, with Solana (SOL) products seeing $3.9 cardinal of inflows, portion Uniswap (UNI) and Tron (TRX) posted $1 cardinal and $0.5 cardinal inflows, respectively.
Related: SEC mulls approving Ethereum ETF options
In contrast, crypto investors were selling short-Bitcoin products past week, with outflows amounting to $2.7 million.
Last week’s beardown crypto inflows drove the Bitcoin terms to a new historical grounds supra $80,000 connected Nov. 10. The BTC terms has continued to emergence since, topping $82,379 connected Nov. 11, according to information from CoinGecko.
Magazine: Asian crypto traders nett from Trump’s win, China’s 2025 CBDC deadline: Asia Express
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