Bitcoin (BTC) Spot ETF Ensures Big Gains: Crypto Products Post Record Inflows For Fourth Consecutive Week

Bitcoin (BTC) Spot ETF Ensures Big Gains : According to CoinShares’ weekly report on market flows of digital asset products, Bitcoin-related products make up the largest share of flows at 84 percent.

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BTC News : Flows into cryptocurrency investment products have already lasted four weeks as the market trades potential Bitcoin approval BTC ticker is below €31,936.
In the United States, the ETF is on the starting line.
$66 million inflows into digital investment products in the week ending October 20, according to a report from asset manager CoinShares on October 23. Total assets under management in the sector now total $33 billion.

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It claimed that $55.3 million or 84 percent of inflows last week came from Bitcoin investment products, bringing the total volume of inflows into Bitcoin products this year to $315 million.

CoinShares research director James Butterfill said that despite this week’s inflows, they are still below levels seen earlier this year, when BlackRock initially filed for a Bitcoin spot ETF.

The recent inflows are likely due to optimism over the launch of a Bitcoin spot ETF in the US. Meanwhile, these are lower than the initial inflows following BlackRock’s announcement in June.

According to Butterfill, $807 million was invested in the industry during a four-week period in June. However, the recent reduced inflows indicate that investors are more cautious this time.

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In the week ending October 20, asset flows, Bitcoin and Solana were the most popular topics. Coinshare Website.

Solana occupied the fifth note of the musical scale in the interim.

Ticker under €29

With $15.5 million, the product garnered the second-highest investment among all cryptocurrencies last week. ethereum eth

Ticker below 1,695 euros

The only alternative currency to see outflows in the past week was ETH, which saw an outflow of $7.4 million.

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On October 23, there were “positive signs” that BlackRock’s ETF was nearing approval, leading to increased interest in spot Bitcoin ETFs. A US appeals court has forced the US Securities and Exchange Commission to reconsider Grayscale’s spot Bitcoin ETF application.

These actions boosted Bitcoin’s momentum, sending it up 14% in the last day and surpassing $34,000 for the first time since May 2022.

Short liquidations of Bitcoin totaled more than $193 million over the past day, according to CoinGlass data.

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