A months-long torrent of cash continued apace last week, as digital asset investment products—including spot Bitcoin The following are some examples of how to get started: Ethereum ETFs—saw $3.2 billion worth of inflows.
The figure is quadruple the previous record year, with inflows totaling $44.5 billion. CoinShares. James Butterfill, CoinShares’ Head of Research in a post on their blog Monday described the figure. “astonishing”—with two weeks left to go in 2024.
The latest deluge represents the 10th consecutive week of positive digital asset investments. It follows the record-breaking burst last week, which saw $3.85bn. Investors have invested $38.5billion in Bitcoin this year. That’s 87%, along with the launch and growth of Bitcoin ETFs Donald Trump Election win In the U.S.
Last week, however, there was a notable increase in the number of digital assets like Ethereum and XRP. The following are some of the ways to get in touch with each other, “We’re going to do something great with crypto.”
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Last week’s $1 billion of inflows for digital asset investment products in Ethereum brought the total this year to $4.4 Billion. Ethereum is still outperforming other major cryptocurrency this year despite its relative weakness. A record is a representation Inflows of Ethereum-based investment products.
Some analysts are concerned that the federal government will pass legislation on cryptocurrency next year. Believe A market structure bill encourages developers to create more applications based on Ethereum’s platform. Analysts see a future where meme coins and stabilizedcoins continue to grow. Increased network activity Ethereum price is benefiting as well.
XRP (a token created by RippleLabs’ co-founders) has almost quadrupled since Election Day. The price is now $2.46 up from $0.50. CoinGecko. Investment products that use the asset have seen $145 million inflows last week. This brings year-to date inflows up to $421 millions. Butterfill said that the increase in recent months was due to a rise in expectations. “U.S. listed ETF.”
Although Bitcoin and Ethereum may be the only digital currencies with ETFs available in the U.S. experts believe that regulatory changes will occur under the next administration. Could you see? Products for other crypto currencies get the green light. WisdomTree The following are some examples of how to get started: 21Shares Two of the largest asset managers have submitted applications to create an ETF that offers XRP exposure.
As of today, all allocations of XRP products come from investors outside of the U.S. They accounted last week for $3.5 Billion, or 92%, of total inflows. Switzerland and Germany were the next largest inflows behind U.S. investors, with $159 million each.
Ripple RLUSD is not limited to XRP Ledger’s network. This product, which is poised to take on the $200 billion stablecoin industry, will be available also via Ethereum. The following is a list of the most recent reviews. Monday.
Andrew Hayward is the editor