Bitcoin (B T c)Amid growing anticipation of spot Bitcoin ETF approval in the United States, related investment products have become the “main beneficiaries” of recent investor interest in crypto.
A total of $1.76 billion of investors’ money has flowed into crypto products over the 10-week period, the largest inflows over this period since October 2021 – when Bitcoin futures launched. According In a Dec. 4 report by James Butterfill, head of research at CoinShares.
Record flow! Inflows over the past 10 weeks have now totaled U$1.76 billion, the highest on record since the futures-based ETF launched in the US in October 2021.
Week 49 inflows: U$176 million
, #bitcoin ,
$BTC: U$133m inflows
Short Bitcoin: US$3.6m inflows
Trading volume in ETP remains… pic.twitter.com/Elon1F2pHl– CoinShares (@CoinSharesCo) 4 December 2023
CoinShares’ weekly report over the past 10 weeks shows that at least $1.44 billion was pumped into Bitcoin investment products during the period, as the price of Bitcoin rose from $26,600 on December 1 to $37,700.
Meanwhile, the latest week ending December 1 saw inflows of $176.3 million into crypto investment products. Bitcoin (B T c) Investment products were the “main beneficiaries”, Butterfill said. recording $132.8 million of inflows over the past week, while ether (ETH) and solana (SOL) The products were priced at $30.8 million and $4.3 million respectively.
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come as inflow spot bitcoin etf application Getting closer to potential approval in the US
Some may be taking advantage of the recent excitement over Bitcoin futures-based product approvals, James Edwards, cryptocurrency analyst at fintech firm Finder, said in a previous interview with Cointelegraph.
“Early signs are that institutional investors are already speculating on ETF approval, with inflows into existing Bitcoin futures ETFs such as ProShares BITO rising to break records for 2021 over the past few days.”
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