{"id":472380,"date":"2024-01-15T09:31:17","date_gmt":"2024-01-15T09:31:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=472380"},"modified":"2024-01-15T17:33:07","modified_gmt":"2024-01-15T17:33:07","slug":"bitcoin-etf-launches-fired-record-17-5-billion-trading-volume-for-crypto-investment-products-last-week","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-etf-launches-fired-record-17-5-billion-trading-volume-for-crypto-investment-products-last-week","title":{"rendered":"Bitcoin ETF Launches Fired Record $17.5 Billion Trading Volume For Crypto Investment Products Last Week"},"content":{"rendered":"

Cryptocurrency investment products racked up a record $17.5 billion in trading volume last week as sentiment soared amid the landmark launch of spot Bitcoin ETF products, CoinShares said.<\/p>\n

Inflows Reach $1.18 Billion With Bitcoin Funds Dominating<\/h2>\n

With trading volumes skyrocketing, inflows receive by funds including such names as  Bitwise, Grayscale and 21Shares reached $1.18 billion, an amount that failed to break the $1.5 billion record set at the launch of futures-based Bitcoin ETFs in October 2021, said<\/a> head of research James Butterfill.<\/p>\n

\"Weekly<\/a><\/p>\n

Bitcoin funds dominated with $1.16 billion in inflows, constituting 98% of the total. Meanwhile, short BTC investment products recorded inflows of up to $4.1 million.<\/p>\n

Altcoins, with a special interest in Ethereum-based products recorded inflows of up to $25.7 million while XRP-related funds witnessed $2.2 million of inflows. Solana-based investment products recorded inflows of $0.5 million.<\/p>\n

US Draws $1.24 Billion As BTC ETF Funds Launched<\/h2>\n

The US led other markets with $1.24 billion of inflows, while Switzerland was next with $21 million. Butterfill said he suspects that outflows from Europe & Canada (Canada $44m, Germany $27m and Sweden $16m) were traders looking to switch from Europe to the US.<\/p>\n

Also Read:<\/h3>\n