{"id":457065,"date":"2023-11-14T12:29:21","date_gmt":"2023-11-14T12:29:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=457065"},"modified":"2023-11-14T12:29:21","modified_gmt":"2023-11-14T12:29:21","slug":"crypto-fund-inflows-surge-to-third-highest-on-record-this-year-as-bitcoin-ether-and-solana-fuel-momentum","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/crypto-fund-inflows-surge-to-third-highest-on-record-this-year-as-bitcoin-ether-and-solana-fuel-momentum","title":{"rendered":"Crypto Fund Inflows Surge To Third-Highest On Record This Year As Bitcoin, Ether, And Solana Fuel Momentum"},"content":{"rendered":"

Crypto fund inflows have surged past $1 billion for this year after to the third-highest on record as an additional $293 million flowed into the industry last week, CoinShares <\/span>said.<\/span><\/a>  <\/span><\/p>\n

\"CoinShares<\/p>\n

More than $1bn has flowed into the industry in the past seven weeks, bringing total net inflows for the year to US$1.14 billion, it said.<\/span><\/p>\n

Bitcoin Products Attract the Highest Crypto Fund Inflows<\/span><\/h2>\n

Bitcoin<\/span><\/a> investment products accounted for the majority of the inflows with $240 million. Bitcoin short products, on the other hand, saw outflows of $7 million, underscoring positive sentiment amid excitement over the possible approval of spot Bitcoin ETFs.<\/span><\/p>\n

Bitcoin exchange-traded products (ETPs) accounted for 19.5% of Bitcoin’s total trading volume over the past week, something that this “has rarely happened and suggests ETP investors are participating much more in this rally compared to 2020\/21,” said head of research James Butterfill.<\/span><\/p>\n

Blackrock’s Proposed Spot Ether ETF Leads to Capital Injection<\/span><\/h2>\n

Bitcoin<\/span><\/a> was not the only cryptocurrency to record large inflows, with Ethereum<\/span>-based products recording the highest inflows since August last year. Products <\/span>linked to the altcoin leader received a $49 million capital injection, which added to the $175 million worth of inflows recorded in the prior week. <\/span><\/p>\n

Ether’s substantial rise in inflows comes after <\/span>BlackRock<\/a> filed to register an Ethereum Trust entity in Delaware and Nasdaq filed papers BlackRock’s proposed spot ether ETF.<\/span><\/p>\n

Solana-based funds also benefited from the uptick with inflows of $12 million recorded over the past week. The project’s native token, SOL, saw its <\/span>price<\/span><\/a> climb more than 30% during the same week.<\/span><\/p>\n

Canada, the U.S. and Germany were the main drivers of the crypto fund inflows last week. Canada reached $105.7 million, the US was second with $81.1 million, while Germany came in third with $52.9 million. <\/span><\/p>\n

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