Bitcoin ETP Funds Drive Crypto Inflows to Record $5.95B

Last week, crypto-investment products saw their largest ever inflows as a result of the US Government Shutdown.

The global crypto exchange-traded products (ETPs) recorded $5.95 billion of inflows in the week ending Friday — the largest ever seen — CoinShares reported Monday is a holiday.

“We believe this was due to a delayed response to the FOMC [Federal Open Market Committee] interest rate cut, compounded by very weak employment data […], and concerns over US government stability following the shutdown,” James Butterfill said that CoinShares head of research James Butterfill.

Bitcoin was the beneficiary of a bullish crypto market trend.BTC( registering an ) new historic high above $125,000 This Saturday

Bitcoin ETPs smash records

Crypto ETPs have surpassed traditional ETPs in terms of their inflows, which reached $5.95 billion. previous $4.4 billion record By mid-July 35%.

In contrast to the past record inflows which were nearly equally divided between Bitcoin (BTC) and Ether.ETHBitcoin (BTC) was the main contributor to these latest gains, with Bitcoin fund attracting an unprecedented $3.6 billion.

“Despite prices closing in on all-time highs during the week, investors did not choose to buy short investment products,” CoinShares Butterfill noted

Butterfill reported that Ether ETPs had inflows of $1.48billion, bringing the year-to date inflows up to $13.7billion, nearly triple what they were last year.

Solana (SOLXRP (XRPCoinShares reports that both of these transactions set records.

Related: Companies spent $1.2B on Bitcoin last week, but BTC ETFs stole the show

The total asset under management in crypto funds has surpassed $250 billion, a record high, for the first.

New ETF launches despite shutdown-triggered delay concerns

Crypto ETPs have seen their historic inflows increase amid US Securities and Exchange Commission’s (SEC) scrutiny. shutting down operations last week“Sparkling” concerns over potential delays Highly anticipated exchange-traded fund (ETF) Approvals this October

According Eleanor Terrett from Crypto in America explains that, while the SEC still has the ability to respond to frauds and emergencies on the market, it is expected that there will be delays to routine tasks.

“It’s like a rain delay,” Eric Balchunas, senior ETF analyst at Bloomberg, said this last week.

Despite the anticipated slowdown, Grayscale Investments — the second-largest US crypto ETF provider, after BlackRock — debuted the first US-listed spot crypto ETPs, enabling staking, on Monday.

Grayscale Ethereum Mini Trust (ETH) or Grayscale Ethereum Trust (ETHE), the new products that focus on staking, now allows investors to earn additional returns. staking rewardsThe fund’s performance on the market will also be credited to your account.