From Bitcoin to Altcoins: Crypto Inflows Hit Record $3.1 Billion, Led by Spot ETFs

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	18,293,534,789	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

18,293,534,789

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.003886	1.87%	0.211247	0.21115	0.211293

Price Change

Price Change %

Current Price

Bid Price

Offer

0.003886

1.87%

0.211247

0.21115

0.211293

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.21231	0.203487	0.207361	0.207361	0.077142 - 0.224875

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.21231

0.203487

0.207361

0.077142 - 0.224875

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	15:12:31	325.91	0.211247	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

15:12:31

325.91

0.211247

USD

Price x Volume	Volume	Base Symbol	Related Pairs
756,520.93	3,627,666.33	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

756,520.93

3,627,666.33

From Bitcoin to Altcoins: Crypto Inflows Hit Record $3.1 Billion, Led by Spot ETFs

26/11/2024 12:30am

NEWSBTC

The crypto market witnessed a significant milestone last week as investment products recorded roughly $3.13 billion in net inflows globally, primarily driven by US spot Bitcoin exchange-traded funds (ETFs), according to data from CoinShares. This surge highlights growing institutional interest and confidence in the crypto market, with Bitcoin leading the charge. CoinShares reveals that the year-to-date net inflows into crypto funds have reached $37 billion, while total assets under management (AUM) soared to a new high of $153 billion. Related Reading: Bitcoin’s MVRV Metric Signals Market Heating Up—Here’s What Investors Should Know Bitcoin Takes The Lead, Altcoins Show Growth The recent inflows mark the seventh consecutive week of positive movements for global crypto investment products managed by leading firms such as BlackRock, Fidelity, Grayscale, and ProShares. A substantial portion of last week’s inflows, approximately $2.05 billion, originated from BlackRock’s IBIT product, underlining the dominance of US-based funds in the global space. These inflows outpaced the first-year debut of US gold ETFs, which attracted only $309 million. Bitcoin-based funds were at the forefront of the inflows, contributing $3 billion of the weekly total. This inflow coincided with Bitcoin’s continued price rally, drawing additional interest from institutional and retail investors. However, the higher prices also spurred a notable $10 million inflow into short-Bitcoin products, bringing the monthly figure for these products to $58 million — the highest since August 2022. While Bitcoin dominated, altcoins also attracted significant investment. Solana emerged as the second-most popular asset among institutional investors, with net weekly inflows of $16 million, surpassing Ethereum’s $2.8 million. Other altcoin-based funds also saw notable inflows, with XRP, Litecoin, and Chainlink attracting $15 million, $4.1 million, and $1.3 million, respectively. These inflows suggest growing confidence in the broader altcoin market, driven by price rallies and increasing adoption. Global Crypto Inflows And Regional Trends US-based funds’ dominance was evident in regional fund flows, accounting for $3.2 billion in net weekly inflows. However, this was slightly “offset” by outflows from European markets, including $84 million, $40 million, and $17 million from crypto investment products in Sweden, Germany, and Switzerland, respectively. Despite these regional outflows, the overall trend remains bullish, driven largely by institutional participation in the US market. Notably, CoinShares’s continuous inflows reflect a combination of factors, including the market’s positive sentiment regarding the bull run and the increasing acceptance of crypto as a legitimate asset class. Related Reading: Ethereum Price Poised for Gains: $3,600 Within Reach? The launch of spot Bitcoin ETFs has been a pivotal development. It provides institutional investors with a regulated avenue to gain exposure to digital assets. As a result, the cryptocurrency market is witnessing a shift toward mainstream adoption, further supported by strong price performance and consistent inflows across various investment products. Featured image created with DALL-E, Chart from TradingView

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