Digital Asset Investment Products Saw Net Inflows Of $103M After One Week Of Decline
Key Points:
- Digital asset investment products bounced back with a $103 million net inflow after a one-week decline.
- Bitcoin and Ethereum led the surge, with $87.6 million and $7.9 million, respectively, while Solana attracted $6 million despite a week of notable growth.
- The influx is linked to expectations of a U.S. Bitcoin ETF, as companies rush to meet the SEC’s December 29 deadline.
In the midst of a recent one-week decline, digital asset investment products have witnessed a notable resurgence, with a net inflow of $103 million. This injection of funds brings the year-to-date flow to an impressive $1.8 billion.
Read more: Digital Asset Investment Products Sees Net Inflow Streak End After 11 Weeks
Digital Asset Investment Products Rebound with $103M Inflow
James Butterfill, the research director at CoinShares, reported that last week, approximately $87.6 million flowed into Bitcoin, complemented by an additional $7.9 million directed towards Ethereum. These contributions contribute to a monthly flow of $95.5 million and an accumulated year-to-date total of $1,758 billion. The overall assets under management for digital asset investment products now stand at a substantial $37.36 billion.
Interestingly, amid a week of remarkable growth for SOL, Solana investment products experienced a net inflow of $6 million. Solana-related products have emerged as strong contenders, accumulating year-to-date flows of $162 million, positioning them just behind Bitcoin.
This consistent influx of capital into digital asset investment products is closely linked to the widespread anticipation of a spot Bitcoin ETF launch in the United States. Observers believe this trend is likely connected to the strict deadline set by the SEC for companies seeking to launch Bitcoin ETFs by December 29. Initial approvals for these ETFs are expected in early January 2024.
While the market displays optimism, some investors maintain a bearish outlook on Bitcoin, noting the current gap in CME Bitcoin futures ranging from $38,000 to $39,000. This divergence in sentiment reflects the dynamic landscape as the crypto market evolves in response to regulatory developments and market forces.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Digital Asset Investment Products Saw Net Inflows Of $103M After One Week Of Decline
Key Points:
- Digital asset investment products bounced back with a $103 million net inflow after a one-week decline.
- Bitcoin and Ethereum led the surge, with $87.6 million and $7.9 million, respectively, while Solana attracted $6 million despite a week of notable growth.
- The influx is linked to expectations of a U.S. Bitcoin ETF, as companies rush to meet the SEC’s December 29 deadline.
In the midst of a recent one-week decline, digital asset investment products have witnessed a notable resurgence, with a net inflow of $103 million. This injection of funds brings the year-to-date flow to an impressive $1.8 billion.
Read more: Digital Asset Investment Products Sees Net Inflow Streak End After 11 Weeks
Digital Asset Investment Products Rebound with $103M Inflow
James Butterfill, the research director at CoinShares, reported that last week, approximately $87.6 million flowed into Bitcoin, complemented by an additional $7.9 million directed towards Ethereum. These contributions contribute to a monthly flow of $95.5 million and an accumulated year-to-date total of $1,758 billion. The overall assets under management for digital asset investment products now stand at a substantial $37.36 billion.
Interestingly, amid a week of remarkable growth for SOL, Solana investment products experienced a net inflow of $6 million. Solana-related products have emerged as strong contenders, accumulating year-to-date flows of $162 million, positioning them just behind Bitcoin.
This consistent influx of capital into digital asset investment products is closely linked to the widespread anticipation of a spot Bitcoin ETF launch in the United States. Observers believe this trend is likely connected to the strict deadline set by the SEC for companies seeking to launch Bitcoin ETFs by December 29. Initial approvals for these ETFs are expected in early January 2024.
While the market displays optimism, some investors maintain a bearish outlook on Bitcoin, noting the current gap in CME Bitcoin futures ranging from $38,000 to $39,000. This divergence in sentiment reflects the dynamic landscape as the crypto market evolves in response to regulatory developments and market forces.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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