Bitcoin Price Rally Fuels $3.1B Inflows into Global Crypto Funds
- Crypto funds saw inflows totaling billions of dollars last week.
- Bitcoin’s recent massive rally fueled the inflows.
- The U.S. accounted for the lion’s share of the inflows.
Crypto investment funds at global asset managers like BlackRock, Grayscale, and Fidelity saw inflows totaling billions of dollars following Bitcoin ’s rally to new highs last week.
The world’s largest crypto asset by market cap reached an all-time high of $99,605 on November 22 as crypto investors basked in Donald Trump’s decisive U.S. presidential victories and anticipated a further interest rate cut by the Federal Reserve at the end of the year. BTC had trimmed some of the weekly gains to exchange hands at $95.496 at the time of writing.
Crypto Funds Inflows
According to a Monday report by CoinShares Head of Research James Butterfill, global crypto funds posted their largest weekly inflows between November 18 and November 23, bringing their total year-to-date inflows to $37 billion.
Sponsored
The fund’s inflows since the first U.S. interest rate cut in mid-September topped $15 billion, underscoring monetary policy influence over investor sentiment in the crypto industry.
“Year-to-date inflows now stand at a record $37bn, driven primarily by Bitcoin, far outpacing the debut of US Gold ETFs, which attracted just $309 million in their first year,” Butterfill noted in the report.Bitcoin funds accounted for the lion’s share of the weekly inflows, pulling in $3 billion as Solana and Ethereum recorded mild inflows of $16 million and $2.4 million, respectively. At the same time, short-bitcoin investment products have amassed their largest monthly inflow of $58 million since August 2022, after the funds attracted $10 million last week.
As expected, crypto investors were more active in the U.S., with the country accounting for nearly all the inflows as products in Germany, Switzerland, and Sweden bled a combined $141 million. Measurable inflows of $30 million, $31 million, and $9 million were noted in Australia, Canada, and Hong Kong, respectively.
Stay updated on MicroStrategy’s latest Bitcoin acquisition:
MicroStrategy Buys Additional 55,500 Bitcoins for $5.4 Billion
Read about XLM’s recent surge:
Stellar’s XLM Climbs Over 187%, Analysts Eye $1 Milestone
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investors Flock to UltraShort Bitcoin ETF as Post-Trump Rally Cools
Senator suggests how D.O.G.E. can save $2 Trillion of American Tax Payers
UK FCA to Regulate Crypto by 2026