See More

Bitcoin ETF Speculations Drive Record-Breaking Crypto Inflows Since 2021: Report

1 min
Updated by Geraint Price
Join our Trading Community on Telegram

In Brief

  • Total crypto inflows for the past week reached a three-month high, signaling a bullish market sentiment.
  • Bitcoin (BTC) attracted $312 million in inflows last week, contributing to the total inflows for 2023 reaching $1.5 billion.
  • Amid growing speculation on the approval of Bitcoin ETFs, industry leaders emphasize the significance of an ETF.
  • promo

According to the latest CoinShares report, total crypto inflows for the week just gone have been the highest in the past three months, pointing to a bullish sentiment in the market.

“Digital asset investment products saw inflows totaling US$346m last week, the largest weekly inflows in this nine consecutive week run,” the statement noted.

Bitcoin ETF Hype Sparks Crypto Investment Surge

According to the recent report, Bitcoin had inflows of $312 million last week. The total inflows for 2023 so far is $1.5 billion. It was declared that the hype around Bitcoin exchange-traded funds (ETF) has led to a record-breaking week for inflows of funds.

“ETF Anticipation Fuelling the Largest Surge in Inflows Since Late 2021.”

Flow by Asset (US$m).
Flow by Asset (US$m). Source: Coinshares

Excitement surrounding the imminent approval of a Bitcoin ETF reportedly triggered the rise in crypto inflows:

“This run, spurred by anticipation of a spot-based ETF launch in the US, is the largest since the bull market in late-2021. The combination of price rises and inflows have now pushed up total assets under management (AuM) to US$45.3bn, the highest in over one and a half years.”

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

Bitcoin ETF Speculation Rises

This comes amid several reports of industry leaders speculating over the approval of Bitcoin ETFs.

Pantera Capital’s Dan Morehead outlined his belief of the importance of a Bitcoin ETF.

“The existence of an ETF is a very important step in becoming an asset class,” he said before adding, “Once an ETF exists, if you don’t have exposure, you’re effectively short.”

Read more: Where To Trade Bitcoin Futures: A Comprehensive Guide

Top crypto projects in the US | April 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

ciaran-lyons-avatar.png
Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
READ FULL BIO
Sponsored
Sponsored