December market correction drags down crypto ETPs by $17B
Despite price corrections, digital assets funds closed the week with positive net flows totaling $308 million.
Auto Added by WPeMatico
Despite price corrections, digital assets funds closed the week with positive net flows totaling $308 million.
Crypto ETPs recorded $20.3 billion of inflows during the past 10 weeks, accounting for 45% of all inflows in 2024.
Bitcoin has been increasingly recognized as not only a store of value but also as a means to generate yields, CoinShares’ analyst Satish Patel said.
The crypto market smashed a set of new records last week, with Bitcoin surging past $100,000 for the first time and Ether revisiting $4,000.
The latest inflows mark four weeks of consecutive buying in cryptocurrency products, totaling more than $5.7 billion, or 19% of all such inflows YTD.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
CoinShares said the United States and Bitcoin led crypto investment product dynamics last week amid growing optimism over a potential Republican election win in the […]
According to CoinShares, last week’s increase in crypto investment products was influenced by the upcoming US elections rather than monetary policy outlooks.
The outflows from crypto investment products in the last week followed a series of inflows totaling nearly $2 billion in the previous three weeks.
Digital asset investment products posted a second consecutive week of inflows last week, totaling $321 million, CoinShares reported.
