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Crypto Investment Inflows Fall Following Record Week, Still up 30% From 2020

2 mins
Updated by Ryan Boltman
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In Brief

  • Inflows into digital assets investment products continued for the eleventh straight week, but fell compared to the prior week’s record numbers.
  • During the last week of October, digital asset investment products saw inflows totaling $288 million.
  • Meanwhile, CoinShares reported only $53 million of inflows from US-based ETFs, as the previous week’s enthusiasm waned.
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Inflows into digital assets’ investment products continued for the eleventh straight week, but fell compared to the prior week’s record numbers.

During the last week of October, digital asset investment products saw inflows totaling $288 million. This brings the total inflows year-to-date to a record $8.7 billion, which is already 30% higher than the total for 2020.

Bitcoin saw the lion’s share of inflows totaling $269 million last week, which brings the total inflows for October to $2 billion. Meanwhile, Ethereum broke its 3-week dry spell, as inflows totaled at $17 million last week, bringing year-to-date inflows to $1 billion. The out performance of altcoins generally last week contributed to Ethereum’s market share rising back to 32%. Other notable altcoin inflows include Solana, Cardano and Polkadot which saw inflows totaling $15 million, $5 million and $6.2 million respectively.

In the midst of all this however, multi-asset investment products saw a record amount of outflows totaling $23 million, in what is now its third week of outflows. According to CoinShares, “investors are currently preferring single-line exposure and are becoming more discerning over their altcoin exposure.”

Hard act to follow

Despite being another consecutive week of inflows into digital assets’ investment products, the amount fell compared to the record-breaking previous week. During the tenth straight week of crypto inflows, digital asset investment products saw inflows amounting to $1.47 billion, a new record by a significant margin. According to CoinShares’ weekly report, this is more than double the previous record of $640 million set earlier this year in February. 

CoinShares attributed the outsized demand to the Securities and Exchange Commission (SEC) approving the first Bitcoin-based exchange traded funds (ETFs). This enabled the listing of two such Bitcoin investment products, whose inflows totaled $1.24 billion. This also contributed to Bitcoin achieving a new all-time high of over $67,000.

Unfortunately, in the last week of October, this level of enthusiasm waned, with CoinShares reporting only $53 million of inflows from US-based ETFs. However, other European and Canadian-based ETPs saw inflows.

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Nicholas Pongratz
Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage.
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