Bitcoin investment products see another record $2.9B inflow

Multiple regulators are now softening their stance on crypto ETPs.

by digital asset investment company CoinShares, a total of $13.2 billion in new capital has flowed into investment products such as spot Bitcoin exchange-traded funds year-to-date, with $74.61 billion worth of Bitcoin now under custody. Bitcoin products accounted for 97% of the total inflows. “Digital asset investment products saw record weekly inflows totaling US$2.9bn, beating the prior week’s all-time record of US$2.7bn,” wrote CoinShares analyst James Butterfill.

The popularity of Bitcoin ETFs has led regulators such as the United Kingdom’s Financial Conduct Authority and Hong Kong’s Securities and Futures Commission to soften their stance on such products. On March 11, the FCAit would “not object to requests from Recognised Investment Exchanges to create a U.K. listed market segment for cryptoasset-backed Exchange Traded Notes.

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