- Weekly crypto inflows reached $1.98 billion, marking a record $116 billion in AUM
- U.S.-based Bitcoin ETFs lead inflows, spurred by favorable macro and political shifts
- Ether ETFs saw largest inflows since launch, while short-Bitcoin products saw outflows
Investor interest in cryptocurrency continued its upward trajectory last week, with digital investment products seeing inflows totaling $1.98 billion between Nov. 3 and Nov. 9. This marks the fifth consecutive week of gains, bringing global assets under management (AUM) to a historic high of $116 billion, according to CoinShares’ report on Nov. 11. The latest figures bring inflows over the past five weeks to $7.7 billion, representing nearly a quarter of 2024’s total inflows of $31.3 billion.
Source: TradingView
Bitcoin ETFs Drive U.S. Inflows Amid Favorable Conditions
Spot Bitcoin ETFs in the U.S. led the charge, contributing $1.8 billion to the weekly inflows. Since the Federal Reserve’s rate cut in September, Bitcoin products have accumulated a total of $9 billion in inflows. James Butterfill, CoinShares’ research director, attributed the robust interest to a “supportive macro environment” and shifts within the U.S. political landscape, which he said likely boosted investor confidence.
Regionally, the U.S. was the primary contributor with $1.95 billion in inflows. Meanwhile, European markets saw modest contributions, with Switzerland and Germany adding $23 million and $20 million, respectively. In contrast, Sweden reported significant outflows, totaling $25.7 million for the week.
Ether and Altcoin ETFs See Notable Increases
Ether ETFs experienced their strongest demand since their July launch, drawing in $157 million during the first week of November. Altcoins also saw positive inflows, including $3.9 million for Solana, while Uniswap and Tron added $1 million and $0.5 million, respectively.
On the other hand, short-Bitcoin products recorded outflows of $2.7 million as investors appeared increasingly bullish. The market momentum helped Bitcoin’s price reach a new all-time high above $80,000 on Nov. 10, continuing to climb past $82,000 by Nov. 11, per CoinGecko data.
