Bitcoin exchange-traded products (ETPs) have witnessed a notable increase of $312 million in the week ending November 24.
Bitcoin exchange-traded products (ETPs) have witnessed a notable increase of $312 million in the week ending November 24, contributing to a total inflow of approximately $1.5 billion so far this year, according to CoinShares. This indicates a continuation of the positive inflow of funds over the last nine weeks, with the overall weekly inflows for all cryptocurrencies reaching $346 million.
Inflows into crypto ETPs are typically regarded as a positive sign for the broader crypto market, signaling growing investor confidence when the value of shares exceeds that of the underlying assets.
In the period leading up to September 25, crypto ETPs experienced consecutive weeks of outflows. However, since the week of September 25, the sector has observed sustained weekly inflows that have progressively gained momentum. The week concluding on November 24 recorded the highest inflows throughout the entire nine-week period.
CoinShares reports that Canadian and German ETPs accounted for the majority share of inflows during the week, representing 87% of the total. In contrast, inflows from the United States remained modest at $30 million. The combined assets under management of crypto funds have now surged to $45.4 billion, marking the highest level in the past 18 months.
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