Crypto investment products have broken a record since October 2021, receiving an inflow of $1.8 billion in the last 10 weeks.
Bitcoin has become the focus of investors’ attention in this period when the expectation of spot Bitcoin exchange-traded fund (ETF) approval in the USA increases. Approximately $1.8 billion has flowed into crypto investment products in a span of almost 2.5 months. This has not been seen since Bitcoin futures launched in October 2021.
Statistics give confidence!
A total of $1.76 billion of investor funds have entered crypto products in 10 weeks, according to a Dec. 4 report from James, head of research at CoinShares. It constituted the most significant entry in this period since October 2021, when Bitcoin futures were launched.
CoinShares’ weekly reports for the past 10 weeks show at least $1.44 billion inflows into crypto investment products over the period, with the price of Bitcoin jumping from $26,600 to $41,400 during the period.
In addition, the week ending December 1 saw $176.3 million worth of inflows into crypto investment products. Butterfill, which recorded an inflow of $132.8 million last week, stated that crypto investment products are the “main gainer”.
The inflows come as spot Bitcoin ETF applications are approaching potential approval in the United States. In a previous interview with Cointelegraph, James Edwards, a cryptocurrency analyst at fintech firm Finder, noted that some Bitcoin futures-based products could benefit from the recent approval excitement:
“Signs suggest that institutional investors have begun speculating on ETF approval, and inflows into existing Bitcoin futures ETFs such as ProShares BITO have increased in the past few days to break 2021 records.”
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