Recent data from CoinShares shows that crypto investment products have recorded positive fund inflows for three consecutive weeks, with last week’s inflow reaching $1.2 billion (around Rp18.2 trillion)
According to the CoinShares report on Monday (September 30, 2024), the significant increase in funds during the trading period from September 22 to 27 was largely driven by ongoing expectations of dovish monetary policy in the United States and positive price momentum. Total assets under management (AUM) increased by 6.2% during the week. CoinShares also noted that the approval of crypto ETF options trading may have fueled greater investor interest, although trading volume fell by 3.1%.
Bitcoin Investment Products Continue to Dominate
Among crypto investment products, Bitcoin ETFs remained dominant, with inflows reaching $1 billion. This surge in investment coincided with Bitcoin’s stable price around $64,000.
Data from SoSoValue indicated that BlackRock’s iShares Bitcoin Trust (IBIT) recorded the highest net inflow, nearly reaching $500 million last week, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw an inflow of $206 million over the same period.
Meanwhile, Ethereum broke out of a five-week negative trend with inflows of $87 million, marking its first significant inflow since early August. According to SoSoValue data, BlackRock iShares Ethereum ETF Trust (ETHA) led with inflows of $94.9 million, followed by Fidelity’s Ethereum Fund (FETH) with $64.9 million.
Despite this positive movement, the Grayscale Ethereum Trust (ETHE) experienced outflows of $127 million, indicating a shift in investor capital toward newer ETFs.
Furthermore, sentiment surrounding altcoins was more varied. Litecoin and XRP saw inflows of $2 million and $0.8 million, respectively, while Solana experienced an outflow of $4.8 million.
Regional Performance
Regionally, the U.S. and Switzerland posted the highest inflows, with $1.2 billion and $84 million, respectively, marking the largest inflow for Switzerland since mid-2022. On the other hand, Germany and Brazil recorded outflows of $21 million and $3 million.
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