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The latest weekly digital asset fund flow report from CoinShares has revealed that last week, crypto asset investment products saw roughly $2.2 billion in net inflows globally, marking the largest inflow since July. This rise in inflows comes amid the gradual recovery of top crypto assets last week, with the majority now reclaiming major highs and registering nearly double-digit gains over the past 7 days. Related Reading: Can Bitcoin Price Reach A New All-Time High? This Golden Cross Suggests So Who Led the Charge? Bitcoin-based products were the standout beneficiaries of last week’s inflows. US spot Bitcoin exchange-traded funds (ETFs) added $2.1 billion, with BlackRock’s IBIT ETF alone generating over $1.1 billion. The cumulative inflows for these Bitcoin ETFs, which began trading in January, now stand at $21 billion. These funds have grown to manage a record $66 billion in assets under management, highlighting their significant role in the market. Notably, the renewed confidence in Bitcoin products mirrors earlier this year’s positive sentiment. Last week’s inflows were the largest since March, when US spot Bitcoin ETFs saw $2.6 billion as Bitcoin reached its all-time high above the $73,000 price mark. This strong demand suggests that investors remain bullish on Bitcoin’s long-term prospects, despite recent market fluctuations. While Bitcoin stole the spotlight, other cryptocurrencies also experienced inflows last week although way lesser than that of BTC. Ethereum-based products attracted $58 million in net inflows, while Solana, Litecoin, and XRP-based funds saw smaller inflows of $2.4 million, $1.7 million, and $700,000, respectively. However, multi-asset investment products did not fare well, experiencing net outflows of $5.3 million, ending a 17-week streak of consecutive inflows. What Prompted The Surge In Crypto Inflow? According to CoinShares, this surge in inflows is tied to growing optimism about the upcoming US elections, with a potential Republican victory driving investor sentiment. Many believe that a Republican administration would favor the digital asset market more favorably, leading to an increase in investor confidence and positive price momentum. James Butterfill, Head of Research at CoinShares, particularly noted: We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets. Notably, Butterfill, reiterated these views, adding that trading volume for these investment products surged by 30% last week. Total assets under management (AUM) for crypto funds are now nearing the $100 billion mark on a global scale, highlighting the substantial interest in digital assets. Related Reading: HODL Fever: Bitcoin Holders Refuse To Sell As Data Shows Record BTC Stash However, while US-based funds thrived, investment products in other countries such as Canada, Sweden, and Switzerland experienced net outflows, indicating a more polarized global market. Featured image created with DALL-E, Chart from TradingView
The cryptocurrency market witnessed a significant influx of investments last week, as notable factors played a key role in shifting investor sentiment. According to the latest report from CoinShares, digital asset investment products saw $407 million in net inflows globally, marking a sharp recovery after a previous week of outflows. This surge in inflows has […]
Ether funds registered $87 million in net inflows to break a five-week losing streak while bitcoin products added $1 billion.
CoinShares expects that crypto investment products will become “increasingly sensitive” to interest rate expectations in September.
Following Bitcoin’s gradual rebound seen last week, the global crypto investment products also appear to have witnessed a notable influx of funds, with a substantial $1.44 billion pouring in over the same period. According to CoinShares, a leading crypto asset management firm, this surge has pushed the year-to-date total to top roughly $17.8 billion, highlighting a growing confidence among investors despite recent market downturns. Related Reading: Institutions Grab Over $5 Billion Bitcoin in a Week: Are They Predicting a Mega Rally? Surge In Crypto Fund Inflows According to the insight shared by CoinShares in its latest report, last week’s activity marked one of the largest net inflows recorded, significantly outpacing the $10.6 billion accumulated during the entire bull run of 2021. This significant increase can be largely attributed to investors taking advantage of recent dips in the prices of many different cryptocurrencies. Bitcoin-centric funds dominated this movement, bringing in about $1.35 billion of that total amount. This indicates investors’ robust appetite for the leading cryptocurrency, which continues to dominate the market despite periodic volatility. Conversely, products betting against Bitcoin (short-BTC Products) saw a reversal in fortune, registering net outflows of $8.6 million—the most significant outflow since April. The shift in holdings indicates a change of heart, which could be due to more favorable market conditions, or it may simply involve strategic portfolio changes for large holders. James Butterfill, head of research at CoinShares, particularly noted: We believe price weakness due to the German Government bitcoin sales and a turnaround in sentiment due to lower than expect CPI in the US prompted investor to add to positions. While the inflow rise was global, US-based funds were by far the largest receiver at $1.3 billion. However, there were also considerable inflows in other parts of the world. For instance, Switzerland saw $36 million, and Hong Kong and Canada collectively added more than $137 million, indicating a universal interest in cryptocurrency investment. Interestingly, Ethereum-based investment products also enjoyed a significant boost, with a $72 million increase in inflows. Butterfill disclosed that this spike is likely “in anticipation of the imminent approval of the spot-based exchange-traded fund (ETF) in the US.” Gradual Recovery: Bitcoin And Ethereum Market Performance So far, the inflows seen in the crypto market last week appear to be now reflected in Bitcoin and Ethereum’s price, with both assets now seeing noticeable rebounds following their recent correction, which made BTC fall as low as $53,000 levels and Ethereum dropping below $2,900. Related Reading: JPMorgan Says Crypto Liquidations Will End And Bitcoin Bull Market Will Begin, Here’s When Over the past 24 hours alone, Bitcoin has seen quite the surge, increasing by 6.1% in value to reclaim the $63,000 mark. At the time of writing, the asset currently trades at $63,764, still down roughly 13.9% from its March peak above $73,000. Ethereum also appears to be mirroring BTC’s price performance. The second largest crypto by market cap is also up 6.4% in the past 24 hours to stand at a current trading price of $3,396. Featured image created with DALL-E, Chart from TradingView
Digital asset investment products experienced consecutive inflows this month, with $1.44 billion recorded last week, per CoinShares‘ latest weekly fund flow report. This recent inflow raised the year-to-date total to a record $17.8 billion, surpassing the $10.6 billion inflows of 2021. However, trading volumes stayed low at around $8.9 billion, compared to the seven-day average […]
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Bitcoin’s recent price struggles presented investors with “buying opportunities,” resulting in the inflow of $441 million into crypto-related investment products, according to CoinShares‘ latest report. James Butterfill, the head of research at CoinShares, explained that digital assets experienced heavy volatility last week due to selling pressures from the German government and news of defunct Mt. […]
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Lately, numerous uncertainties have been seen in the cryptocurrency market, leading to a significant drop in the value of several major coins, like XRP. Despite this, well-known cryptocurrency analyst and enthusiast Javon Marks in a daring forecast has predicted a significant upswing for XRP, setting a $20 price target for the digital asset following its […]
The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and reportedly Binance.
This week’s Crypto Biz features Galaxy Digital and CoinShares earning results, Franklin Templeton’s CEO betting on blockchain, Polymarket’s funding raise, and a leadership transition at dYdX.
Crypto-related investment products recorded their first inflow in over a month, totaling $130 million during the past week, according to CoinShares’ latest weekly report. The inflows mark a notable shift in investor sentiment after weeks of negative flows across the crypto market. However, the inflow did not improve investors’ participation in the asset class as […]
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CoinShares found a significant increase in hedge funds and wealth managers survey respondents who have allocated to Solana compared to earlier this year.
Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.3 billion. A Closer Look At The Outflows The magnitude of these […]
The action was a break from what had been a record seven-week string of inflows.
CoinShares’ global assets under management (AUM) increased to approximately $7.3 billion following the acquisition.
This week’s headlines include Franklin Templeton’s entry into the Ether ETF race, Ripple’s new custody deal, Bakkt’s sale of securities and CoinShares’ Q4 earnings.
New U.S. bitcoin ETFs have amassed $7.7 billion in funds since debut, offsetting the $6 billion outflows from incumbents, according to CoinShares data.
One XRP price metric hints at a 50%-plus price decline for the cryptocurrency in the coming months.
The trading of U.S. spot Bitcoin ETFs brought all-time high weekly trading volumes for crypto investment products, according to CoinShares.
After securing the option to acquire Valkyrie’s crypto unit in November 2023, CoinShares is exercising the option after Valkyrie’s spot Bitcoin ETF listing on Nasdaq.