Cryptocurrency

Bitcoin ETF

Billion

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 <p>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.</p>
 <h2 id="inflows-reach-1-18-billion-with-bitcoin-funds-dominating">Inflows Reach $1.18 Billion With Bitcoin Funds Dominating</h2>
 <p>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, said head of research James Butterfill.</p>
 <p><img decoding="async" class="aligncenter wp-image-472384 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20481%20489'%3E%3C/svg%3E" alt="Weekly crypto asset flows" width="481" height="489" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 481w, https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 295w, https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 86w" data-lazy-sizes="(max-width: 481px) 100vw, 481px" data-lazy-src="https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp">
  <noscript><img decoding="async" class="aligncenter wp-image-472384 size-full" src="https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp" alt="Weekly crypto asset flows" width="481" height="489" srcset="https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 481w, https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 295w, https://cdn.thebittimes.com/images/2024/01/16/91b193ca77633163f52c99f838172a54.webp 86w" sizes="(max-width: 481px) 100vw, 481px">
  </noscript></p>
 <p>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.</p>
 <p>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.</p>
 <h2 id="us-draws-1-24-billion-as-btc-etf-funds-launched">US Draws $1.24 Billion As BTC ETF Funds Launched</h2>
 <p>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.</p>
 <h3 id="also-read">Also Read:</h3>
 <ul>
  <li>BlackRock Spot Bitcoin ETF Ad Targeting Wealthy Boomers Praised As “So Boring It’s Brilliant”</li>
  <li>BlackRock, Fidelity And Grayscale Dominate Spot Bitcoin ETF Trading On First Day</li>
  <li>Vanguard Customers Threaten To Close Accounts As Fund Management Titan Refuses To Sell Spot Bitcoin ETFs</li>
 </ul>
 <p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-launches-fired-record-17-5-billion-trading-volume-for-crypto-investment-products-last-week-tbt76657.html">https://thebittimes.com/bitcoin-etf-launches-fired-record-17-5-billion-trading-volume-for-crypto-investment-products-last-week-tbt76657.html</a></p>
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Bitcoin ETF Launches Fired Record $17.5 Billion Trading Volume For Crypto Investment Products Last Week

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TheBitTimes

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