Cardano

Litecoin

United

Bitcoin ETF

<p>Crypto product inflows for this year have eclipsed the total for the previous year despite having a few weeks left in the calendar, according to CoinShares’ latest weekly report.</p> 
<p>Per the <a href="https://blog.coinshares.com/volume-156-digital-asset-fund-flows-weekly-report-5c181a52ce1a">report</a>, the weekly inflows into cryptocurrency products have reached a robust $767 million, exceeding the $736 million recorded in 2022.</p> 
<h2 id="sixth-weekly-inflow">Sixth weekly inflow</h2> 
<p>This record-breaking yearly performance comes on the heels of last week’s $261 million inflow, marking the sixth consecutive week driven by the positive sentiment surrounding the <a href="https://cryptoslate.com/microstrategys-michael-saylor-cites-spot-bitcoin-etf-applications-upcoming-halving-as-bullish-signals/">possibility of approval</a> of spot-based Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).</p> 
<p>CoinShares notes that this recent surge in inflows is reminiscent of the run observed in July 2023 and marks the largest since December 2021.</p> 
<p>Notably, Bitcoin (<a href="https://cryptoslate.com/coins/bitcoin/">BTC</a>) continues to dominate this surge, attracting $229 million in inflows last week and pushing its year-to-date inflow to an impressive $842 million. Even in the face of this bullish sentiment, Short-Bitcoin products also saw substantial inflows, totaling $4.5 million.</p> 
<table border="1"> 
 <thead> 
  <tr> 
   <th>Flows by Asset (US$m)</th> 
   <th>Week flows</th> 
   <th>MTD flows</th> 
   <th>YTD flows</th> 
   <th>AUM</th> 
  </tr> 
 </thead> 
 <tbody> 
  <tr> 
   <td>Bitcoin</td> 
   <td>228.9</td> 
   <td>230.0</td> 
   <td>842</td> 
   <td>28,797</td> 
  </tr> 
  <tr> 
   <td>Ethereum</td> 
   <td>17.5</td> 
   <td>13.6</td> 
   <td>-107</td> 
   <td>7,638</td> 
  </tr> 
  <tr> 
   <td>Multi-asset</td> 
   <td>-4.2</td> 
   <td>-1.6</td> 
   <td>-41</td> 
   <td>1,326</td> 
  </tr> 
  <tr> 
   <td>Solana</td> 
   <td>10.8</td> 
   <td>10.7</td> 
   <td>109</td> 
   <td>274</td> 
  </tr> 
  <tr> 
   <td>Binance</td> 
   <td>–</td> 
   <td>–</td> 
   <td>-1</td> 
   <td>234</td> 
  </tr> 
  <tr> 
   <td>Litecoin</td> 
   <td>–</td> 
   <td>–</td> 
   <td>4</td> 
   <td>113</td> 
  </tr> 
  <tr> 
   <td>Short Bitcoin</td> 
   <td>4.5</td> 
   <td>2.2</td> 
   <td>66</td> 
   <td>104</td> 
  </tr> 
  <tr> 
   <td>XRP</td> 
   <td>0.2</td> 
   <td>–</td> 
   <td>15</td> 
   <td>73</td> 
  </tr> 
  <tr> 
   <td>Cardano</td> 
   <td>0.5</td> 
   <td>-0.0</td> 
   <td>7</td> 
   <td>32</td> 
  </tr> 
  <tr> 
   <td>Tron</td> 
   <td>–</td> 
   <td>–</td> 
   <td>-51</td> 
   <td>28</td> 
  </tr> 
  <tr> 
   <td>Other</td> 
   <td>2.3</td> 
   <td>0.8</td> 
   <td>6</td> 
   <td>98</td> 
  </tr> 
  <tr> 
   <td><strong>Total</strong></td> 
   <td><strong>260.6</strong></td> 
   <td><strong>255.9</strong></td> 
   <td><strong>847</strong></td> 
   <td><strong>38,716</strong></td> 
  </tr> 
 </tbody> 
</table> 
<p style="text-align: center;"><em>Source: Bloomberg, CoinShares, data available as at 03 Nov 2023</em></p> 
<p>Ethereum, after experiencing consistent outflows since the start of October, had its first positive week, accumulating $17.5 million. Despite losing around $107 million to outflows this year, this week marks its most substantial inflow since August 2022.</p> 
<p>Solana, a prominent competitor to Ethereum, also saw notable inflows amounting to $10.8 million. Additionally, several other altcoins, including Chainlink (<a href="https://cryptoslate.com/coins/chainlink/">LINK</a>), Polygon (<a href="https://cryptoslate.com/coins/polygon/">MATIC</a>), and Cardano (<a href="https://cryptoslate.com/coins/cardano/">ADA</a>), registered inflows of $2 million, $0.8 million, and $0.5 million, respectively.</p> 
<h2 id="us-investors-drive-inflow">US investors drive inflow</h2> 
<p>Surprisingly, U.S. investors, who have mostly been cautious in their approach, are now actively participating in the digital asset product market.</p> 
<p>According to <a href="https://cryptoslate.com/companies/coinshares/">CoinShares</a>, U.S. investors contributed the most significant share of inflows recorded last week, totaling approximately $157 million.</p> 
<table border="1"> 
 <thead> 
  <tr> 
   <th>Flows by Exchange Country (US$m)</th> 
   <th>Week flows</th> 
   <th>MTD flows</th> 
   <th>YTD flows</th> 
   <th>AUM</th> 
  </tr> 
 </thead> 
 <tbody> 
  <tr> 
   <td>Australia</td> 
   <td>0.0</td> 
   <td>0.0</td> 
   <td>5</td> 
   <td>17</td> 
  </tr> 
  <tr> 
   <td>Brazil</td> 
   <td>-4.6</td> 
   <td>-0.9</td> 
   <td>-46</td> 
   <td>348</td> 
  </tr> 
  <tr> 
   <td>Canada</td> 
   <td>9.2</td> 
   <td>25.9</td> 
   <td>-26</td> 
   <td>2,374</td> 
  </tr> 
  <tr> 
   <td>France</td> 
   <td>0.1</td> 
   <td>0.1</td> 
   <td>3</td> 
   <td>12</td> 
  </tr> 
  <tr> 
   <td>Germany</td> 
   <td>63.0</td> 
   <td>45.1</td> 
   <td>301</td> 
   <td>2,005</td> 
  </tr> 
  <tr> 
   <td>Sweden</td> 
   <td>-2.6</td> 
   <td>-1.8</td> 
   <td>-94</td> 
   <td>1,924</td> 
  </tr> 
  <tr> 
   <td>Switzerland</td> 
   <td>35.5</td> 
   <td>27.9</td> 
   <td>255</td> 
   <td>2,326</td> 
  </tr> 
  <tr> 
   <td>United States</td> 
   <td>156.6</td> 
   <td>157.7</td> 
   <td>493</td> 
   <td>29,515</td> 
  </tr> 
  <tr> 
   <td>Other</td> 
   <td>3.3</td> 
   <td>1.9</td> 
   <td>-42</td> 
   <td>196</td> 
  </tr> 
  <tr> 
   <td><strong>Total</strong></td> 
   <td><strong>260.6</strong></td> 
   <td><strong>255.9</strong></td> 
   <td><strong>847</strong></td> 
   <td><strong>38,716</strong></td> 
  </tr> 
 </tbody> 
</table> 
<p style="text-align: center;"><em>Source: Bloomberg, CoinShares, data available as at 03 Nov 2023</em></p> 
<p>This increased interest from U.S. investors may be attributed to recent developments in spot <a href="http://cryptoslate.com/etf">Bitcoin ETF applications</a>, which have garnered significant attention and investment from the broader crypto community.</p> 
<p><a href="http://cryptoslate.com/places/germany">Germany</a> follows closely, recording inflows of $63 million, while <a href="http://cryptoslate.com/places/switzerland">Switzerland</a> and <a href="http://cryptoslate.com/places/canada">Canada</a> also made noteworthy contributions, amounting to $36 million and $9 million, respectively.</p> 
<p>The post <a rel="nofollow" href="https://cryptoslate.com/crypto-product-inflows-in-2023-surpass-last-years-total-by-over-30-million/">Crypto product inflows in 2023 surpass last year’s total by over $30 million</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Crypto product inflows in 2023 surpass last year’s total by over $30 million

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