Bitcoin ETF Applications Revive the Market: Increased Entry into Investment Funds

  • European asset management company CoinShares reported last week that it received $199 million in crypto funds.
  • The crypto market showed signs of revival as major asset management companies like BlackRock applied for spot Bitcoin ETFs.
  • Bitcoin received a total of $188 million in inflows last week in companies like CoinShares and Grayscale.

The revival in the cryptocurrency market is reflected in funds; CoinShares reported its highest fund inflow since July 2022.

Increase in Crypto Investment Fund Inflows

European asset management company CoinShares reported last week that it received $199 million in crypto funds. This is the highest inflow of cryptocurrency investment products reported since July 2022.

At another point where the crypto market showed signs of revival with major asset management companies like BlackRock applying for spot Bitcoin ETFs, CoinShares stated that the gains from last week corrected almost half of the outflows seen in the previous nine weeks.

CoinShares said, “We believe that this re-emerging positive sentiment is due to the recent announcements by high-profile ETP issuers applying for physically backed ETFs with the U.S. Securities and Exchange Commission.”

coinshares-crypto-asset-flow

Crypto Investment Product Inflows (Weekly)

Bitcoin Receives Most of the Inflows

Bitcoin received a total of $188 million in inflows last week in companies like CoinShares and Grayscale. Short-positioned Bitcoin has been experiencing outflows for nine weeks with a $4.9 million outflow. Ethereum, on the other hand, saw an inflow of $7.8 million, indicating that interest in Ethereum is currently lower than Bitcoin.

CoinShares stated that the excitement did not reflect on altcoins, saying that there were “very small” inflows to XRP and Solana, and added;

“The improving sentiment encouraged some investors to buy multi-asset investment ETPs, and there were $8 million inflows last week.”

According to CoinShares, total assets under management by fund managers are currently at $37 billion, which is the highest level since before the collapse of Three Arrows Capital.

BREAKING NEWS

Bitcoin in Extreme Fear as Crypto Fear and Greed Index Stands at 10

COINOTAG News reports, referencing Alternative Data, that the Crypto...

Ethereum Whales Signal Heavy On-Chain Action as $1.39B ETH Wallet Begins Selling and ZEC/BTC Short Bets Surge

Whale activity dominated the on-chain brief, with Hyperinsight noting...

Ethereum’s Super Cycle Remains Intact Amid Market-Maker Woes, Tom Lee Says

COINOTAG News reported on November 16 that Tom Lee,...

Ethereum Leads Arthur Hayes’s Token Selloff: BitMEX Co-Founder Dumps About $2.48M in ETH Across Two Sessions

According to LookIntoChain data cited by COINOTAG News on...

AP-UChicago Nationwide Poll: Trump’s Economic Approval Drops to 33% as Disapproval Reaches 67%

COINOTAG News, November 16 — In a nationwide representative...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img