Bitcoin (BTC) exchange-traded products (ETPs) registered $312 million in inflows for the week of Nov. 24, bringing year-to-date inflows to around $1.5 billion, according to CoinShares. The weekly inflows for all cryptocurrencies totaled $346 million, continuing a nine-week trend of positive net flows.
New record of inflows with US$346m this week, the highest total observed in the past 9 weeks of inflows.
– Weekly crypto asset flows for the 47 weeks ending Nov. 24. Source: Coinshares
CoinShares stated that Canadian and German ETPs made up the largest portion of inflows for the week, at 87%. United States inflows were subdued at $30 million.
Crypto funds as a whole now have $45.4 billion in assets under management, the highest in 18 months.
In a previous report, CoinShares speculated that these recent inflows may be influenced by growing optimism that a U.S. spot Bitcoin ETF will be approved. On Nov. 22, BlackRock met with the U.S. Securities and Exchange Commission in an attempt to make progress toward this goal. Grayscale met with the SEC for similar reasons.