2024

bullish

Bitcoin ETF

Digital asset inflows experienced a notable surge in the week ending Oct. 25, reaching $901 million, largely fueled by a spike in Bitcoin transactions and propelling year-to-date totals to $27 billion.&nbsp;
According to the CoinShares weekly flows report, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_blank" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) attracted $920 million during this period, a trend likely influenced by the upcoming elections in the United States. As noted in the report:
<blockquote>
 “We believe that current Bitcoin prices and flows are heavily influenced by US politics, with the recent surge in inflows likely linked to the Republicans’ poll gains.”
</blockquote>
The US led the charts with $906 million in inflows, while Germany and Switzerland recorded gains of $14.7 million and $9.2 million, respectively. In contrast, Canada, Brazil, and Hong Kong experienced slight outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.
CoinShares reports that short-Bitcoin positions posted minor outflows of $1.3 million during the past week.&nbsp;
Among issuers, BlackRock's iShares Bitcoin Trust exchange-traded fund (ETF) still holds the top spot, with total assets under management of more than $28 billion. Combined, Bitcoin ETF issuers are managing assets worth $78.9 billion.&nbsp;
<figure>
 <img alt="Weekly digital asset inflows reach $901M, totaling $27B in 2024" src="https://s3.cointelegraph.com/uploads/2024-10/0192d46e-b847-761c-9e1f-76655385d5eb" title="">
 <figcaption style="text-align: center;">
 Flows by provider. Source: CoinShares
 </figcaption>
</figure>
<h3 id="strong-october-s-bullish-turn-for-digital-assets-strong">October’s bullish turn for digital assets</h3>
October has seen inflows account for 12% of total assets under management, marking it as the fourth largest month of capital flows on record. Total inflows in 2024 reached $27 billion — nearly three times higher than the previous record of $10.5 billion set in 2021.&nbsp;
According to CoinShares, the positive sentiment is also seen in blockchain equities, posting a third week of positive flows and closing Oct. 25 at $12.2 million in volume. Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/solana-price-index">SOL</a>) funds saw the second largest inflows at $10.8 million.
The trend has not been reflected in Ethereum-based funds, which amassed the largest outflows among digital assets, closing with $35 million in withdrawals. Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/10-crypto-theories-that-missed-as-badly-as-peter-todd-is-satoshi/" rel="null" target="null" text="null" title="null">10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’</a>

Weekly digital asset inflows reach $901M, totaling $27B in 2024

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Cointelegraph

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