CoinShares Reports Surge in Crypto Investments
Recently, CoinShares reported a significant surge in crypto investments, with inflows of $293 million, bringing the total to $1.14 billion. This increase is linked to the potential listing of a spot-based Bitcoin ETF. Over the last two weeks, the European crypto asset manager has observed a noticeable shift in sentiment, likely due to the recent spot-based ETF listing request.
The report also reveals that digital asset investment products have experienced seven consecutive weeks of inflows, surpassing the $1 billion milestone. Additionally, total assets under management (AuM) have seen a 9.6% increase over the past week and a 99% surge since the beginning of the year, reaching $44.3 billion. Blockchain equity ETFs also saw significant inflows, reaching $14 million.
Blackrock’s Ethereum Trust
The renewed market interest is attributed to BlackRock’s registration of an iShares Ethereum (ETH) Trust in Delaware on Nov. 9. However, the launch of this spot Ethereum ETF is contingent upon the potential approval of its spot Bitcoin ETF proposal.
Hot Take: Crypto Investments Reach New Heights
The surge in crypto investments, fueled by potential ETF listings and renewed market interest, signals a positive turn for digital assets. With inflows reaching record highs and total AuM experiencing significant growth, the crypto market is poised for continued expansion and adoption.
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