{"id":78559,"date":"2023-10-30T14:41:34","date_gmt":"2023-10-30T18:41:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/digital-asset-investment-products-register-record-326m-in-inflows-led-by-bitcoin-and-solana\/"},"modified":"2023-10-30T14:41:38","modified_gmt":"2023-10-30T18:41:38","slug":"digital-asset-investment-products-register-record-326m-in-inflows-led-by-bitcoin-and-solana","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78559","title":{"rendered":"Digital Asset Investment Products Register Record $326M in Inflows, Led by Bitcoin and Solana"},"content":{"rendered":"<div>\n<figure id=\"attachment_123173\" aria-describedby=\"caption-attachment-123173\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-123173\" class=\"wp-caption-text\">Image Source: Pexels<\/figcaption><\/figure>\n<p>Digital asset investment funds saw a record $326 million in net outflows last week, marking the largest single week of inflows since July 2022.<\/p>\n<p>According to a <span data-preserver-spaces=\"true\">recent report by CoinShares<\/span>, the surge in investor interest can be attributed to growing optimism surrounding the potential approval of a spot-based Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC).<\/p>\n<p>\u201cMonth-to-date inflows are now close to half a billion dollars,\u201d the report said, noting that this indicates an increase in investor confidence.<\/p>\n<p>While the weekly inflow is undoubtedly positive for Bitcoin, it is worth noting that it ranks as only the 21st largest on record, suggesting that investors are still exercising caution.<\/p>\n<p>However, industry experts believe that the approval of a spot-based Bitcoin ETF in the coming months is highly likely.<\/p>\n<p>Such an approval would represent a significant regulatory milestone for the industry and potentially drive further investment.<\/p>\n<p>Regionally, the United States accounted for only 12% of the inflows, with $38 million, as investors eagerly await the potential launch of the spot-based ETF.<\/p>\n<p>The major contributors to the inflows were Canada, Germany, and Switzerland, with inflows of $134 million, $82 million, and $50 million, respectively.<\/p>\n<p>Interestingly, Asia also witnessed a surge in weekly inflows, reaching $28 million.<\/p>\n<p>With total assets under management now standing at $37.8 billion, the highest since May 2022, the digital asset market is experiencing substantial growth.\n<\/p>\n<h2>Bitcoin Dominates Weekly Inflows<\/h2>\n<p>\nBitcoin dominated the inflows, capturing 90% of the total at $296 million.<\/p>\n<p>However, the recent price surge also prompted $15 million in inflows into short-Bitcoin investment products, reflecting the hedging strategies employed by some investors.<\/p>\n<p>In addition to Bitcoin, Solana experienced significant inflows of $24 million.<\/p>\n<p>Although some other altcoins also saw inflows, this wave of optimism did not extend to Ethereum, which experienced outflows totaling $6 million.<\/p>\n<p>The <span data-preserver-spaces=\"true\">anticipation of a spot ETF approval<\/span> has led to a surge in Bitcoin\u2019s price in recent weeks.<\/p>\n<p>The cryptocurrency rallied towards $35,000 earlier this month, driven by market speculation surrounding the potential approval of a spot ETF.<\/p>\n<p>The surge in price has not only caught the attention of investors but has also sparked a renewed interest in crypto trading, leading to a significant increase in daily exchange volumes.<\/p>\n<p>As <span data-preserver-spaces=\"true\">reported<\/span>, the seven-day moving average for spot exchange volumes across reputable platforms breached an impressive $24 billion on October 26, a level not seen since the end of March.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/digital-asset-investment-products-register-record-326m-in-inflows-led-by-bitcoin-and-solana.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image Source: Pexels Digital asset investment funds saw a record $326 million in net outflows last week, marking the largest single week of inflows since July 2022. According to a recent report by CoinShares, the surge in investor interest can be attributed to growing optimism surrounding the potential approval of a spot-based Bitcoin exchange-traded fund [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-78559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Digital Asset Investment Products Register Record $326M in Inflows, Led by Bitcoin and Solana | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Image Source: Pexels Digital asset investment funds saw a record $326 million in net outflows last week, marking the largest single week of inflows 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