As a seasoned researcher with years of experience in the ever-evolving world of digital assets, I find myself both awestruck and intrigued by the current state of cryptocurrency investments. The consistent inflows into Bitcoin and other crypto products are reminiscent of a gold rush, but instead of panning for gold, we’re mining data on blockchains.
Investors in cryptocurrencies continue to buy at a rapid pace, with Bitcoin reaching new record prices and digital asset investment funds experiencing their tenth straight week of increased investments.
In the time frame from December 9-13, there was an additional $3.2 billion invested into digital asset investment products, as reported by cryptocurrency investment firm CoinShares in their most recent weekly inflows report, which they released on Monday, December 16.
During the preceding period, there was a week-long surge of funds amounting to a record $3.85 billion. This addition brings the total inflows for the year 2024 up to an impressive $44.5 billion.
2024 saw a significant portion of its total inflows, approximately 45%, coming from the last ten weeks, which have consistently followed one another since early October, with each week contributing around $20.3 billion.
Bitcoin products lead with $2 billion inflows
Over the last seven days, investments in Bitcoin-related products have surged by approximately $2 billion, raising the total investment since the U.S. presidential election to an astounding $11.5 billion, as stated by James Butterfill, CoinShares’ head of research, in a recent update.
Last week, there was a rise in activity for brief Bitcoin investment options, amounting to an inflow of about $14.6 million compared to the week before. Despite this increase, the total assets managed by short Bitcoin exchange-traded products (ETPs) still remained relatively low at approximately $130 million, as mentioned by Butterfill.
In simpler terms, the BlackRock iShares Bitcoin Trust ETF attracted approximately $2 billion worth of Bitcoin investments, while Grayscale’s Bitcoin Trust experienced withdrawals totaling about $145 million.
Ether ETPs hit seventh week of inflows at $1 billion
In simple terms, Ethereum (ETH), which ranks as the second most valuable cryptocurrency behind Bitcoin due to its market capitalization, experienced a prosperous week in Exchange Traded Product (ETP) investments. Last week, these Ethereum-related ETPs attracted approximately one billion dollars in investments.
Over the past seven weeks, there’s been a steady increase in investment flow towards Exchange Traded Products (ETPs) based on Ethereum, amounting to approximately $3.7 billion in total during this timeframe.
Most regions showed a strong optimistic outlook, as nearly all areas experienced an increase in capital inflow during the previous week.
In this case, “The United States led all countries with $3.1 billion of incoming funds, while Switzerland and Germany were the second and third largest contributors, respectively, with $35.6 million and $33 million in contributions.
Sweden was the only country that saw crypto ETP outflows last week, totaling $19 million.
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2024-12-16 14:35