CoinShares’ latest report showed that the crypto sector experienced $3.2 billion in inflow last week, extending its streak to 10 consecutive weeks of positive flows. The longest run of positive flows this year is now complete.
The inflow also brings total year-to-date flows to $44.5 billion, which is four times higher than any previous annual record.
Trump’s election victory spur $11 billion inflow
Bitcoin and Bitcoin related investment products received inflows of $2 billion last week. This means the flagship digital asset has recorded over $11 billion in inflows since Donald Trump‘s election victory in November.
This is due to the optimism surrounding potential regulatory clarity, and an upcoming US administration that will be more pro-crypto. The US has dominated the inflows with $3.1 billion. Switzerland, Germany, and Brazil followed closely behind.
CoinShares’ Head of Research, James Butterfill, noted that trading volumes in Bitcoin ETPs averaged $21 billion weekly, accounting for 30% of Bitcoin trading activity on trusted exchanges. Bitcoin trading volumes reached $8.3bn daily on trusted exchanges, showing a highly liquid and dynamic market.
Short Bitcoin products have also seen a rise in popularity, as $14.6 million of new money has been invested, bringing their total assets managed to $130 millions. This trend highlights growing interest in hedging strategies as Bitcoin’s price climbed to an all-time high of over $106,000.
Ethereum continued to see inflows of $1 billion, adding another $1 billion for the 7th consecutive week. Ethereum ETPs experienced total inflows reaching $3.7 Billion over this period.
Notably spot Ethereum ETFs recorded a streak of 15 consecutive days with inflows exceeding $2 billion.
Altcoins have also seen a positive trend. Inflows of $145 million were attracted to XRP by speculation about an ETF that could be listed in the US. Polkadot (a cryptocurrency) and Litecoin ($3.7 million and $2.22 million respectively) also saw inflows, as investors diversified.
Bitcoin Market Data
The time of the press On Dec. 16, 2024, 12:37 PM UTCBitcoin has the largest market cap in terms of price and is currently ranked number one. You can also check out our Facebook page. 0.89% Over the last 24 hours. Bitcoin is valued at 2 05 Trillion Dollars The 24-hour volume trading is $77.56 Billion. Learn more about Bitcoin ›
Bitcoin
On Dec. 16, 2024, 12:37 PM UTC
$103,761.32
0.89% Crypto Market Overview
The time of the press On Dec. 16, 2024, 12:37 PM UTCThe crypto market has a total value of at 3 665 milliards de dollars With a volume of 24 hours. $272.84 Billion. Bitcoin is the dominant currency at this time. 56.29%. Learn more about the crypto market ›
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