Record Inflows in Bitcoin and Ethereum Funds: CoinShares’ New Report!

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• The latest report from CoinShares reveals record weekly inflows of $2.45 billion into Bitcoin and Ethereum products.
• Weekly inflows into digital asset investment products reached $2.45 billion, setting an all-time high.
• The United States accounted for 99% of the inflows, directing $2.4 billion. This indicates a significant acceleration in net inflows distributed among various providers.

According to the weekly report released by CoinShares, massive inflows were observed in Bitcoin and altcoin investment products.

CoinShares’ Flow New Report Makes Waves

Last week saw record-breaking inflows into Bitcoin and Ethereum-based funds. The latest Digital Asset Fund Flows Weekly Report from CoinShares reveals that a record $2.45 billion was invested in Bitcoin and Ethereum products. The recent increase in investor sentiment has contributed to capital inflows into major cryptocurrency assets. Investors are now wondering whether this surge in inflows will lead to an impressive rally in Bitcoin and Ethereum prices.

Weekly inflows into digital asset investment products reached $2.45 billion, setting an all-time high. Additionally, this year’s inflows into crypto-based products have reached a surprising $5.2 billion. These inflows raised the total assets under management (AUM) value to $67 billion, marking the highest level recorded since December 2021, in conjunction with recent positive price movements.

The CoinShares report also highlights that 99% of the inflows went to Bitcoin, but other investors seized the opportunity to increase short positions in the cryptocurrency, resulting in $5.8 million in inflows. Ethereum also received inflows of $21 million. However, there were outflows of $1.6 million following the recent disruption caused by Solana. Among companies consistently receiving weekly inflows this year, Avalanche, Chainlink, and Polygon saw inflows of $1 million, $0.9 million, and $0.9 million, respectively.

Leading in U.S. Investment Figures

The United States directed 99% of the inflows, accounting for $2.4 billion. This shows a notable acceleration in net inflows distributed among various providers. It also indicates the increasing popularity of fulfillment-based ETFs and a sharp decline in the outflows of existing players. While Sweden had outflows of $2 million, other regions, such as Germany and Switzerland, had moderate inflows of $13 million and $1 million, respectively.

BTC and Ethereum Rally in the Future?

The hype surrounding Bitcoin ETFs has led more institutional investors to join the cryptocurrency trend. Currently, the future looks promising, especially with Bitcoin leading the way, for many cryptocurrencies. Several organizations, including Bitwise, predict that Bitcoin’s price will surpass $80,000 in 2024, contributing to the belief that prices could rise in the future. According to Coinbase, institutional investment in Bitcoin will remain a priority at least until the first half of 2024. Today’s weekly inflow report further solidifies the idea that Bitcoin could reach an all-time high bull level in the coming months of 2024.

On the other hand, predictions for Ethereum also stand in the positive spectrum of investor outlook. Ethereum is considered a leader in smart contracts. With the emergence of Vitalik’s Ethereum 2024 plan and the upcoming Cancun update, many organizations anticipate significant advancements in Ethereum Layer 2 in 2024. Given the growth environment in Ethereum’s usage and applications, an upward trend in ETH prices is also expected in the future.