Cryptocurrency

Bitcoin ETF

Billion

Cryptocurrency investment products racked up a record $17.5 billion in trading volume last week as sentiment soared amid the landmark launch of spot Bitcoin ETF products, CoinShares said. 
<h2 id="inflows-reach-1-18-billion-with-bitcoin-funds-dominating">Inflows Reach $1.18 Billion With Bitcoin Funds Dominating</h2> With trading volumes skyrocketing, inflows receive by funds including such names as &nbsp;Bitwise, Grayscale and 21Shares reached $1.18 billion, an amount that failed to break the $1.5 billion record set at the launch of futures-based Bitcoin ETFs in October 2021, <a href="https://blog.coinshares.com/volume-165-digital-asset-fund-flows-weekly-report-32a1e5e9e197">said</a> head of research James Butterfill. <a href="https://insidebitcoins.com/wp-content/uploads/2024/01/Screenshot-2024-01-15-172527.png"><img class="aligncenter wp-image-472384 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/01/Screenshot-2024-01-15-172527.png" alt="Weekly crypto asset flows" width="481" height="489"></a> Bitcoin funds dominated with $1.16 billion in inflows, constituting 98% of the total. Meanwhile, short BTC investment products recorded inflows of up to $4.1 million. Altcoins, with a special interest in Ethereum-based products recorded inflows of up to $25.7 million while XRP-related funds witnessed $2.2 million of inflows. Solana-based investment products recorded inflows of $0.5 million. 
<h2 id="us-draws-1-24-billion-as-btc-etf-funds-launched">US Draws $1.24 Billion As BTC ETF Funds Launched</h2> The US led other markets with $1.24 billion of inflows, while Switzerland was next with $21 million. Butterfill said he suspects that outflows from Europe &amp; Canada (Canada $44m, Germany $27m and Sweden $16m) were traders looking to switch from Europe to the US. 
<h3 id="also-read">Also Read:</h3> 
<ul> 
 <li><a href="https://insidebitcoins.com/news/blackrock-spot-bitcoin-etf-ad-targeting-wealthy-boomers-praised-as-so-boring-its-brilliant">BlackRock Spot Bitcoin ETF Ad Targeting Wealthy Boomers Praised As “So Boring It’s Brilliant”</a></li> 
 <li><a href="https://insidebitcoins.com/news/blackrock-fidelity-and-grayscale-dominate-spot-bitcoin-etf-trading-on-first-day">BlackRock, Fidelity And Grayscale Dominate Spot Bitcoin ETF Trading On First Day</a></li> 
 <li><a href="https://insidebitcoins.com/news/vanguard-customers-threaten-to-close-accounts-as-fund-management-titan-refuses-to-sell-spot-bitcoin-etfs">Vanguard Customers Threaten To Close Accounts As Fund Management Titan Refuses To Sell Spot Bitcoin ETFs</a></li> 
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Bitcoin ETF Launches Fired Record $17.5 Billion Trading Volume For Crypto Investment Products Last Week

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