Crypto Investment Inflows Soar to $1.18 Billion With Launch of New Spot Bitcoin ETFs
• Total inflows into crypto investment products reached $1.18 billion last week, over 5 times greater than the prior week, fueled by the launch of 10 spot Bitcoin ETFs • The gains all came from the US, which added $1.24 billion; minor outflows in Europe offset the US gains • This tops the previous weekly inflow record of $1.5 billion in October 2021 following Bitcoin futures ETF launches • Net trading volume for crypto ETFs exceeded $17.5 billion last week, the largest ever 7-day period • Analysts cautioned against overemphasizing short-term results, as ETFs are often considered long-term investments