CoinShares data being cited for the reports that crypto-focused funds had the largest single week of inflows in over a year. This comes amidst the feverish optimism that a U.S. spot bitcoin exchange-traded fund will soon get approved by the US Securities and Exchange Commission.
From reports:
- digital asset investment products logged inflows of $326M for the week ended October 27
- most since July 2022 (and 21st largest on record)
- Bitcoin funds accounted for 90% of the inflows
- there was also inflows of $15M into short-BTC products
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An ETF that invests directly in bitcoin looks poised to be approved by the U.S. Securities and Exchange Commission.
Bitcoin update: