Cryptocurrency investment products recorded their highest flow last week, while the US government shutdown fuel a rally in the crypto market markets.
Global Crypto Products exchanged by exchange (ETP) Recorded $ 5.95 billion on the week ending Friday – the largest seen – Coinhares reported on Monday.
“We believe this is due to a delayed response to the FOMC (Federal Open Market Committee) interest rate, combined with weak job data (…), and concerns over the US government’s stability following shutdown,” head of research by Coinhares, James Butterfill.
Record inflows come in the middle of a general bullish trend in crypto markets, which led to bitcoin (Btc) Register a New historical high above $ 125,000 on Saturday.
The Bitcoin ETPS records
In streams of up to $ 5.95 billion, crypto ETPs exceeded Previous $ 4.4 billion notes from mid -July by 35%.
Unlike previous records of the record, which is almost evenly distributed between Bitcoin and Ether (Eth), the latest gains are extremely dominated by BTC, with bitcoin funds that attract a record-breaking of $ 3.6 billion.
“Despite the prices closed all the time high on Sunday, investors have not chosen to buy short investment products,” Coinshares Butterfill said.
The Ether Etp has seen outflows worth $ 1.48 billion, driving the year-to-date outflow to another record of $ 13.7 billion, near the triple last year, Butterfill said.
Solana (Sol) ETP inflows ranked third to $ 706.5 million, while XRP (XRP) added $ 219.4 million, with the same record settings, according to Coinhares.
Related: Companies spent $ 1.2B on Bitcoin last week, but BTC ETF stole the show
According to the new record for the flowers, the total property under Management (AUM) in Crypto funds has passed $ 250 billion in the first time, reaching a new high $ 254.4 billion.
The new ETF launches despite shutdown-triggered delays of concerns
Crypto ETPS history notes come in the middle of the US Securities and Exchange Commission (SEC) Shutting down operations last weekSparking concerns with potential delays of high expectations Exchange-Traded Fund (ETF) Approval this October.
According to In American Eleanor Terrett’s Crypto, the SEC can still act on emergency fraud and market, but shutdown is widely expected to introduce routine work delays.
“It’s like a rain delay,” Bloomberg’s senior analyst Eric Balchunas said last week.
Despite the expected slowdown, investments in Grayscale-the second largest US Crypto ETF providers, after Blackrock-debuted the first US listed in the crypto ETPs, which activated staking, on Monday.
New products dedicated to staking, grayscale ethereum mini trust etf (eth) and grayscale ethereum trust etf (ethe), now allow investors to receive additional Staking rewardsIn addition to those obtained in the performance of the fund market.
