Cryptocurrency investors continue their purchasing spree as Bitcoin sets new highs, with crypto investment products recording their 10th consecutive week of inflows. Digital asset investment products experienced $3.2 billion in inflows for the week of Dec. 9-13, according to CoinShares’ latest weekly flows report.
This follows a record $3.85 billion in inflows during the previous period, bringing total inflows for 2024 to $44.5 billion. Since early October, there has been a series of consecutive weekly inflows, totaling $20.3 billion, accounting for 45% of all inflows in 2024. Bitcoin investment products led with $2 billion in inflows during the past week, bringing total inflows since the US presidential election to $11.5 billion.
Short Bitcoin products also experienced increased activity, with $14.6 million in inflows. BlackRock’s iShares Bitcoin Trust ETF led BTC inflows with $2 billion, while Grayscale’s Bitcoin Trust saw outflows of $145 million. Ether ETPs reported $1 billion in inflows for the seventh week, with total inflows for various Ether-based ETPs totaling $3.7 billion over the period.
The United States was the biggest contributor, with $3.1 billion in inflows, followed by Switzerland and Germany with $35.6 million and $33 million, respectively. Sweden was the only country that experienced crypto ETP outflows, totaling $19 million.
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<p>The post Cryptocurrency Investors Continue Buying Spree as Bitcoin Hits New Highs and Crypto Investment Products See 10th Week of Inflows first appeared on CoinBuzzFeed.</p>
