Digital Asset Surge: Bitcoin ETF Inflows Break Records
The cryptocurrency investment landscape witnessed a groundbreaking milestone last week, with $BTC ETFs attracting a staggering $3.124 billion in inflows. This marks the highest weekly net inflow ever recorded, coinciding with Bitcoin's remarkable ascent toward the $100,000 mark. Since mid-September, when the U.S. initiated interest rate cuts, the digital asset market has seen a cumulative influx of $15.2 billion, highlighting its growing appeal to institutional and retail investors alike. Notably, Bitcoin ETFs have contributed $34.4 billion to this year’s total $37 billion cryptocurrency inflows, surpassing the inaugural year of U.S. gold ETFs and accounting for over 90% of the market’s annual investments.
Among altcoins, $SOL led with $16.2 million in weekly inflows, overshadowing Ethereum’s modest $2.8 million. Other assets like $XRP , Litecoin, and Chainlink also attracted significant investments, drawing $15 million, $4.1 million, and $1.3 million, respectively. Meanwhile, Cardano held steady with $700,000 in inflows. Despite this bullish trend, short-selling Bitcoin products saw a notable increase, with $10 million flowing in last week alone and $58 million recorded for the month, marking the highest short inflows since August 2022.
Geographically, the U.S. dominated the inflows with $3.2 billion, while Canada, Hong Kong, and Australia contributed $31 million, $30 million, and $9 million, respectively. In contrast, Brazil experienced significant outflows totaling $12.5 billion, and countries like Sweden, Germany, and Switzerland faced pullbacks after recent price spikes. Multi-asset products, however, continued to struggle, recording $10.5 million in outflows for the second consecutive week. As the digital asset market reaches new heights, the question arises: will Bitcoin maintain its dominance, or will altcoins carve out a larger share of the pie? Share your thoughts on the evolving trends and regional disparities in crypto investments.
