Inflows into crypto asset investment products have surpassed $1 billion this year due to the prevailing optimism surrounding the possible approval of a spot Bitcoin exchange-traded fund approval (ETF), according to CoinShares Senior Analyst James Butterfill.
Butterfill, citing data from CoinShares, revealed that crypto investment products attracted $226.4 million in inflows this week, sustaining the recent positive trend permeating the burgeoning industry. This elevates the month-to-date flow to $482.1 million, contributing to a robust year-to-date total of $1.074 billion.
Breaking down the inflows by assets, Bitcoin dominated with over $1 billion, followed by a noteworthy $119 million inflow for Solana. Short BTC products also experienced inflows totaling $59 million for the year.
In contrast, Ethereum and Tron-related investment products faced outflows of $77 million and $51 million, respectively.
Meanwhile, other digital assets such as Cardano, XRP, and Litecoin observed more modest
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