Digital asset investment products saw a remarkable surge in inflows, reaching $407 million, largely fueled by investor sentiment surrounding the upcoming U.S. elections. According to a CoinShares report on Monday, political developments—rather than monetary policies—are influencing these investment decisions.
U.S. Leads Inflows
The United States was the primary contributor, accounting for $406 million of the total inflows, with Canada trailing behind at $4.8 million. Bitcoin was the biggest winner, attracting $419 million in inflows, while short-Bitcoin products experienced $6.3 million in outflows, indicating investor optimism about Bitcoin’s future.
Despite the surge, Ethereum continued to face outflows, losing $9.8 million in the same period.
Bitcoin ETFs See Major Inflows
On Friday, October 11, Bitcoin ETFs saw significant inflows, totaling $253.54 million in just one day. The cumulative total net inflow for Bitcoin ETFs reached $18.81 billion, with total net assets amounting to $58.66 billion, representing 4.71% of Bitcoin’s market cap.
Among the top performers, Fidelity’s FBTC ETF had the largest one-day net inflow of $117.10 million, with total net assets of $11.35 billion. In contrast, Grayscale’s GBTC saw outflows of $22.09 million.
Blockchain Equity ETFs and Ethereum ETFs
Blockchain equity ETFs also recorded one of their largest weekly inflows this year, drawing $34 million, likely boosted by rising Bitcoin prices. On the flip side, Ethereum ETFs saw a continued decline. The daily net outflow for Ethereum ETFs was $97.11K, with cumulative net outflows reaching $558.88 million.
Growing Interest in Crypto ETFs
A recent survey commissioned by Charles Schwab revealed increasing interest in crypto ETFs among U.S. investors. According to the survey, 45% of respondents plan to invest in crypto via ETFs over the next year, up from 38% the previous year. Millennials were particularly enthusiastic, with 62% intending to allocate funds to crypto, surpassing their interest in traditional assets like U.S. stocks and bonds.
In contrast, baby boomers showed far less interest, with only 15% planning to invest in digital assets.
This growing interest in crypto ETFs reflects the shifting dynamics of the financial markets, as more investors, especially younger ones, are looking toward digital assets as part of their portfolios.
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