On September 30, 2024, crypto-related investment products saw inflows of $1.2 billion, marking the third consecutive week of growth. This surge, reported by CoinShares, is attributed to expectations of a dovish US monetary policy and positive market momentum, pushing total assets under management up 6.2% to $92.7 billion.
The approval of options trading for BlackRock's spot Bitcoin ETF further boosted market sentiment. Despite these inflows, weekly trading volume dipped by 3.1%.
Bitcoin remained the dominant asset, attracting $1 billion in inflows to BTC-related products, reflecting its strong price performance. Notably, investment funds from Bitwise, BlackRock, Fidelity, and Ark 21 Shares reported positive results. However, Grayscale's crypto funds continued to experience outflows, decreasing total assets to $21.2 billion.
Bitcoin's recent price rise to approximately $65,000 also led to an $8.8 million inflow into short-Bitcoin products, as some investors speculate a rally reversal. Regionally, the US led inflows with $1.2 billion, while Switzerland attracted $84 million. Conversely, Germany and Brazil saw outflows of $21 million and $3 million, respectively.
Ethereum-related products ended a five-week outflow streak, bringing in $87 million, the first significant inflow since early August. Spot Ethereum ETFs recorded the second-highest weekly flows since their launch in July. Meanwhile, large-cap alternatives showed mixed results, with Litecoin and XRP gaining $2 million and $0.8 million, while Solana and Binance faced outflows of $4.8 million and $1.2 million.