The cumulative year-to-date inflows into crypto-related investment products have reached a record high of $14.9 billion, according to according to CoinShares’ weekly report.This record was achieved following a third straight week of inflows that totaled $1.05 billion last week. Notably, the ETPs’ trading volumes rose by 28% to $13.6 billion during the reporting period, a significant departure from the subdued activities seen in previous weeks.Meanwhile, James Butterfill, CoinShares’ head of research, pointed out that recent price increases in the market have pushed the total value of assets under management for digital asset ETPs to $98.5 billion.A flow breakdown shows that Bitcoin-related ETPs accounted for 99% of the total inflows, recording $1.01 billion last week. Surprisingly, short Bitcoin products saw another week of outflows, totaling $4.3 million.Butterfill explained that the substantial inflows into BTC ETPs showed positive sentiments returning to the market. He wrote:“[The inflows] suggest that sentiment is turning broadly positive despite the recent price rises. This is likely due to investors interpreting the FOMC minutes and recent macro data as mildly dovish.”These positive sentiments also extended to Ethereum-related investment products, which saw their highest inflows at $36 million since March. Butterfill stated that these inflows “were likely an early reaction to the approval of ETH ETFs in the United States.”Notably, other large-cap digital assets, like Solana, Chainlink, and Litecoin, recorded cumulative inflows exceeding $10 million during the reporting period.While sentiments in the United States appear to impact investors’ interests in crypto products positively, the same cannot be said for ETFs in Hong Kong.According to CoinShares, since the initial positive launch of Bitcoin spot-based ETFs in Hong Kong (which saw $300 million in the first week), there have been further outflows of $29 million last week. This brings the total outflows in the city-state to approximately $80 million this month, the highest among countries.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Get the latest crypto news and expert insights. Delivered to you daily.The Decentralized Fund inititaive is designed to support Polkadot-focused organizations with funding.Hong Kong’s financial regulator SFC has licensed only 2 crypto exchanges in the region.SEC’s regulatory crackdown influenced ETF issuers to exclude staking from proposals amid compliance concerns.Hong Kong is reportedly considering allowing staking for Ethereum ETFs to boost investor appeal.Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. DeFi Technologies recently adopted BItcoin as its primary treasury reserve asset.Japanese firm Metaplanet saw its stock surge 10% after its most recent Bitcoin acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
