By: Eva Baxter
The prospect of regulator-approved Bitcoin Exchange-Traded Funds (ETFs) pushes crypto fund investments to an all-time high as inflows into digital asset products show a consistent upwards trend. Bitcoin ETFs recorded $312 million inflows for the week of Nov. 24, catapulting the year-to-date inflows to a staggering $1.5 billion, said leading crypto investment firm CoinShares.
The recent surge in cryptocurrency investment can be seen as a positive sign for the overall crypto market, showing a bullish trend. Crypto Exchange-Traded Products (ETPs), which experienced outflows for several weeks before Sept. 25, have now come into a continuous inflow streak, achieving the largest inflow during the week ending on Nov. 24. According to the report, 87% of the inflow was held by Canadian and German ETPs, while the United States marked a subdued amount of $30 million.
Crypto funds in entirety reap $45.4 billion in assets under management. This influx of investments is speculated to be stemming from the growing optimism about the approval of a U.S. spot Bitcoin ETF. Giants in the field, such as BlackRock and Grayscale, have made moves towards achieving this aim by arranging meetings with the U.S. Securities and Exchange Commission.
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