U.Today – In its latest weekly report, CoinShares has revealed an incredible shift in the flow of funds into cryptocurrency exchange-traded products as (BTC) saw a massive $436 million inflow into ETFs last week. This surge came after a period marked by $1.2 billion in outflows over the previous 10 days.
As analyst James Butterfill explains, the significant spike in capital inflows is largely due to a change in the way the market thinks about the possibility of a 50 basis point interest rate cut on September 18.
Despite the recent positive turn, Bitcoin’s year-to-date figures show outflows of $209 million, which is a stark contrast to its year-to-date inflows, which have reached an impressive $20.775 billion.
Meanwhile, it’s worth noting that Bitcoin shorts saw an outflow of $8.5 million, following three weeks of inflows. is facing its own set of challenges and saw $19 million in outflows, with inflows of $708 million so far this year.
On the other hand, it showed some staying power, reaching $3.8 million in its fourth consecutive week of receipts.
Blockchain-focused vehicles have also seen a positive shift, with $105 million in inflows thanks to the creation and launch of several new ETFs in the US market.
Matt Hougan, the CIO of Bitwise, recently said that he is interested in launching ETFs focused on meme cryptocurrencies. This means that assets like (SHIB) or (DOGE) could soon be available for investment, which will give investors more options.
This article was originally published on U.Today
