Inflows into Bitcoin investment products reach $1.5B year-to-date

Bitcoin (BTC) exchange-traded items (ETPs) signed up $312 million in inflows for the week of Nov. 24, bringing year-to-date inflows to around $1.5 billion, according to CoinShares. The weekly inflows for all cryptocurrencies totalled $346 million, continuing a nine-week pattern of positive net circulations. New record of inflows with US$ 346m today, the highest total observed in the past 9 weeks of inflows.– #Bitcoin–$ BTC: US$ 312m inflows (year-to-date inflows US$ 1.5 bn) Short Bitcoin: US$ 0.9 m outflowsETP volumes as a portion of overall spot Bitcoin volumes … pic.twitter.com/gMUPzTy0q4— CoinShares (@CoinSharesCo) November 27, 2023

Crypto ETPs experience inflows when their shares trade above the prices of their underlying assets, whereas they experience outflows when their shares trade below the worth of their underlying assets. For this reason, inflows are frequently viewed as a bullish indication for the overall crypto market, whereas outflows are typically seen as bearish.Before Sept. 25, crypto ETPs had experienced outflows for several weeks, according to the report. However beginning in the week of Sept. 25-29, the sector began experiencing sustained weekly inflows. The quantity of inflows likewise increased over time. The week ending Nov. 24 saw the biggest inflows of the whole nine-week period.Weekly crypto property streams for the 47 weeks ending November 24. Source: Coinshares.Coinshares mentioned that Canadian and German ETPs comprised the biggest portion of inflows for the week at 87%. U.S. inflows were controlled at $30 million.Crypto funds as a whole now have $45.4 billion in properties under management (AuM), the greatest in 18 months. In a previous report, CoinShares hypothesized that these current inflows may be affected by growing optimism that a U.S. area Bitcoin ETF will be authorized. On Nov. 22, Blackrock fulfilled with the U.S. Securities and Exchange Commission (SEC) in an attempt to make progress towards this goal. Grayscale consulted with the SEC for similar reasons.

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The recent inflows into Bitcoin investment products reaching $1.5 billion year-to-date indicate a significant shift in market sentiment. This surge, particularly the $312 million recorded in the week of November 24, suggests growing investor confidence in Bitcoin and related assets. The positive trend in inflows, especially after a period of outflows, highlights a renewed bullish outlook for the cryptocurrency market.

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