Bitcoin ETF Speculations Drive Record-Breaking Crypto Inflows Since 2021: Report

To sum things up

• All out crypto inflows for as long as week arrived at a three-month high, flagging a bullish market feeling.
• Bitcoin pulled in $312 million in inflows last week, adding to the complete inflows for 2023 coming to $1.5 billion.
• In the midst of developing hypothesis on the endorsement of Bitcoin ETFs, industry pioneers stress the meaning of an ETF.

As per the most recent Coinshares report, all out crypto inflows for the week just gone have been the most elevated in the beyond 90 days, highlighting a bullish feeling on the lookout.

“Advanced resource speculation items saw inflows totalling US$346m last week, the biggest week by week inflows in this 9 continuous week run,” the assertion noted.

Bitcoin ETF Hype Sparks Crypto Investment Surge

As indicated by the new report, Bitcoin had inflows of $312 million last week. The complete inflows for 2023 so far is $1.5 billion. It was proclaimed that the promotion around Bitcoin trade exchanged reserves (ETF) has prompted a record-breaking week for inflows of assets.

“ETF Expectation Fuelling the Biggest Flood in Inflows Since Late 2021.”

Excitement surrounding the imminent approval of a Bitcoin ETF reportedly triggered the rise in crypto inflows:

“This run, spurred by anticipation of a spot-based ETF launch in the US, is the largest since the bull market in late-2021. The combination of price rises and inflows have now pushed up total assets under management (AuM) to US$45.3bn, the highest in over 1 & ½ years.”

Bitcoin ETF Speculation Rises

This comes in the midst of a few reports of industry pioneers guessing over the endorsement of Bitcoin ETFs.

Pantera Capital’s Dan Morehead framed his conviction of the significance of a Bitcoin ETF.

“The existence of an ETF is a very important step in becoming an asset class,” he said before adding, “Once an ETF exists, if you don’t have exposure, you’re effectively short.”