Bitcoin (BTC) institutional investment vehicles have seen over $1 billion in new inflows in less than two months.
in its latest weekly report On November 13, crypto asset management company CoinShares further elaborated on its claim that Bitcoin and altcoins are once again attracting capital.
The asset management scale of crypto institutional products has increased by 99% year-to-date
Bitcoin, ethereum (ETH) and some major altcoin prices are rising as excitement grows over the potential approval of the first U.S. spot exchange-traded fund (ETF).
Data shows that the total cryptocurrency market capitalization has increased by $600 billion since November 2022 trading view confirm.
However, CoinShares revealed that funding for crypto investment products has increased dramatically over the past two months.
“Financial inflows into digital asset investment products totaled US$293 million last week, marking seven consecutive weeks of inflows above the US$1 billion mark, and year-to-date inflows of US$1.14 billion, the third-highest annual inflow ever .” it concluded.
Cryptocurrency exchange-traded products (ETPs) assets under management (AUM) statistics are one of the impressive statistics showing the resurgence of cryptocurrencies in 2023.
That number has nearly doubled since the start of the year, rising nearly 10% in the past week alone.
CoinShares noted: “Total assets under management now stand at $44.3 billion, the highest level since a major crypto fund collapse in May 2022.”
The report added that those aiming to go long BTC accounted for the lion’s share of trading volume.
“Bitcoin inflows totaled $240 million last week, pushing year-to-date inflows to $1.08 billion, while short Bitcoin saw outflows of $7 million, indicating continued optimism,” the report states.
“This is what adoption looks like.”
Meanwhile, new interest has prompted on-chain analytics firm Glassnode to reassess Bitcoin supply dynamics.
Related: Financing rates echo $69K BTC price – 5 things to know about Bitcoin this week
With the next block subsidy halving just five months away, Bitcoin is now being collected for storage at a rate exceeding 2.4 times the amount mined, the latest edition of the weekly newsletter shows, “One week on the chain”.
“The fourth halving event is approaching, which is an important fundamental, technical and philosophical milestone for Bitcoin. For investors, it is also an important event given the impressive returns in previous cycles. areas of interest,” it commented.
Among the various accompanying charts, one shows BTC supply storage by long-term holders (LTH) – entities that have held the token for 155 days or more.
Philip Swift, creator of the statistics platform Look Into Bitcoin, went on to highlight the constant increase in wallet entities, large and small.
“This is what adoption looks like,” he told X subscribers that day.
This is what adoption looks like.#bitcoin
Free live charts: pic.twitter.com/twnAE8ZoC4
— Philip Swift (@PositiveCrypto) November 13, 2023
This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should do their own research when making decisions.
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