Search Inside Bitcoins

Crypto Products See Inflows For Fourth Week As Bitcoin Dominates, Ethereum Struggles

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Crypto inflows
Crypto inflows

Join Our Telegram channel to stay up to date on breaking news coverage

Crypto investment products recorded inflows for a fourth consecutive week with Bitcoin leading the way amid heightened optimism over the approval of spot Bitcoin exchange-traded funds (ETFs).

Inflows last week reached $66 million as assets under management rose 15% from their early September lows to reach $33 billion, the highest since mid-August, said CoinShares’ Digital Asset Fund Flows Weekly Report released on Oct. 23.

The inflows were still lower than in June, when BlackRock announced its spot Bitcoin ETF application, indicating a more cautious approach from investors this time around, CoinShares said.

Flows by Asset

Source: CoinShares

Bitcoin Accounted For 84% Of Inflows

Bitcoin dominated inflows with $55.3 million, or 84% of the total, pushing year-to-date Bitcoin product inflows to $315 million. 

While the beginning of last week saw short-Bitcoin inflows at $23m, positions were pared back substantially, with net inflows by the end of the week at just $1.7m, suggesting short sellers are losing confidence, it said.

Solana (SOL) sucked in $15.5 million but Ethereum saw outflows of $7.4 million, the only altcoin to suffer outflows last week, CoinShares said.

Solana’s inflows brought its year-to-date total to $47 million, making it the most popular altcoin, said head of research James Butterfill. 

Related News

Most Searched Crypto Launch - Pepe Unchained

Rating

Pepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards - pepeunchained.com
  • $10+ Million Raised at ICO - Ends Soon
Pepe Unchained

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

Please enter Coingecko Free Api Key to get this plugin works