Bitcoin ETF

Read

James

Crypto investment products experienced inflows of $901 million this month, marking the fourth-largest inflow on record, per data from CoinShares.
Crypto investment products recorded inflows of $901 million in October, marking the fourth-largest inflow month on record and accounting for 12% of total assets under management. Data from CoinShares <a href="https://blog.coinshares.com/volume-206-digital-asset-fund-flows-weekly-report-0be04a4470cf" target="_blank" rel="noopener noreferrer nofollow">indicates</a> that year-to-date inflows now total $27 billion, nearly tripling the previous record of $10.5 billion set in 2021.
CoinShares head of research James Butterfill says current Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) prices and flows are “heavily influenced by U.S. politics, with the recent surge in inflows likely linked to the Republicans poll gains.”
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The focus was almost entirely on Bitcoin, which saw inflows of $920 million.”
 James Butterfill
</blockquote>
The United States led the inflow surge, attracting $906 million, while other regions displayed a mixed performance. Germany and Switzerland saw inflows of $14.7 million and $9.2 million, respectively. In contrast, Canada, Brazil, and Hong Kong experienced modest outflows of $10.1 million, $3.6 million, and $2.7 million.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-market-will-be-calm-before-us-election-analysts/"> Crypto market will be calm before US election: analysts </a>
The positive sentiment surrounding Bitcoin did not extend to Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>), which recorded the largest outflows among digital assets last week, totaling $35 million, data shows. In contrast, Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) garnered attention with inflows of $10.8 million. Meanwhile, blockchain equities showed signs of recovery, with inflows reaching $12.2 million last week, marking the third consecutive week of positive momentum in this sector, per CoinShares.
Meanwhile, activity among Bitcoin whales has sharply decreased, with data from IntoTheBlock <a href="https://crypto.news/bitcoin-whales-unsure-ahead-of-us-election-large-holder-net-inflows-plunge-from-38800-to-258/" target="_blank" rel="noopener noreferrer nofollow">revealing</a> that net inflows for large holders dropped from approximately 38,800 BTC on Oct. 20 to just 258 BTC on Oct. 26, suggesting that whales are feeling jittery as the U.S. Election Day approaches.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-etf-inflows-3-billion-demand-6-month-high/"> Bitcoin ETF inflows surpass $3b in October, demand hits six-month high </a>

CoinShares: US political landscape fuels $901m inflows into crypto funds

crypto.news

Other articles published on Oct 28, 2024

Cardano Price Prediction: ADA is Bearish

Meta takes on Google, building its own AI-powered search engine

World Liberty Fi Website Crashes Amid $6.5M Raise

New Solana Memecoin Lord MAGA Trump (LORDMAGA) Will Skyrocket 16,000% Before Exchange Listings

Bank of Hawai‘i Corporation (BOH) Reports Better than Expected Results for Q3 2024

Simplifying On-Chain Data: The Key to Web3 Mass Adoption?

Join our free newsletter for daily crypto updates!