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crypto.news 2024-12-16 12:29:49

Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge

Digital asset investment products recorded a significant surge over the past week, with investors pouring another $3.2 billion into the market. In its weekly fund flows report , digital asset manager CoinShares says the global crypto exchange-traded products market reached $44.5 billion in inflows year-to-date as the streak of positive flows continued to a 10 th consecutive week. According to CoinShares, inflows into crypto ETPs has recorded a 300% increase over any other year, with the quadruple spike in 2024 also allowing for average volumes of $21 billion a week. About 30% of this ETP volume has been in Bitcoin exchange-traded funds on major exchanges. “Bitcoin volumes on trusted exchanges (all investment types) is highly liquid, having averaged US$8.3bn a day this year, double that of the FTSE 100,” CoinShares head of research James Butterfill wrote. Bitcoin records $2 billion in weekly inflows The surge in inflows into digital asset investment products came as Bitcoin ( BTC ) held near the psychological $100k level. BTC has since gone on to hit a new high above $106k. Over the past week, BTC investment products recorded inflows of $2 billion into Bitcoin ETPs. Since the U.S. election, Bitcoin has seen inflows of $11.5 billion to push the total assets under management in ETPs past $135 billion. Comparatively, the global digital asset investment products AUM stood at just over $167.4 billion as of Dec. 13. Per SoSoValue data , BTC ETFs have seen cumulative net inflows of $35.6 billion as of Dec. 13. The total value traded since the funds launched on U.S. exchanges stood at over $3.1 billion. BlackRock’s iShares Bitcoin Trust has outshone other ETFs with mega net flows. Read more: Bitcoin hits $106K, an all-time high fueled by Donald Trump’s intention to do “great with crypto Ethereum, XRP also see inflows Ethereum ( ETH ), predicted to surpass BTC in ETFs inflows in the next year, is on a seven-week streak of positive inflows with $1 billion in the past week and $3.7 billion in this period. Among top altcoins, XRP ( XRP ) recorded inflows of $145 million last week and Polkadot ( DOT ) and Litecoin ( LTC ) products attracted $3.7 million and $2.2 million respectively. For XRP, interest from institutional investors has increased since Trump’s win and as experts point to a potential approval for XRP ETFs by the U.S. Securities and Exchange Commission. Analysts have noted that Ripple’s launch of its stablecoin RLUSD , pegged 1:1 to the U.S. dollar, could be another catalyst for XRP as cross-border payments adoption picks momentum. Prices of these altcoins have increased in the past several weeks, with BTC’s spike also impacting crypto stocks such as MicroStrategy. Read more: Microstrategy surges 6.5% in pre-market trading

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