Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin


After weeks of slow activity, finally, the inflows in the cryptocurrency industry have come rushing in.

For the week ending October 22, crypto investment products saw record inflows totaling a whopping $1.47 billion, according to CoinShares’ weekly report. The previous weekly record was at $640 mln seen earlier this year in February.

This has been the 10th straight week of inflows as optimism soared with the debut of bitcoin futures ETFs. This also brings in year-to-date inflows to $8 bln, far exceeding the entire 2020 record of $6.7 billion.

Last week, crypto-asset prices also surged, with Bitcoin hitting a new ATH at $67,000 and Ether coming close to surpassing its ATH at $4,380.

With prices rising, total assets under management of asset managers also hit a record of $79.2 billion but ended the week at $76.7 billion.

Grayscale, the largest digital asset manager’s AUM, climbed to $54.6 bln while CoinShares’ AUM went up to $5.2 bln.

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Much like the last six weeks in a row, this time as well, Bitcoin accounted for the majority of these inflows. With $1.45 billion flowing in the $1.2 trillion cryptocurrency, its YTD inflows now amount to $6.1 billion.

“Bitcoin hitting new all-time highs shows both how far we've come and the capacity bitcoin has to upend the financial system and create a global economy, linking the developed and emerging markets like never before,” said Ray Youssef, co-founder, and CEO of peer-to-peer fintech platform Paxful.

“While this recent price rally can be attributed to movements like the approval of the first bitcoin ETF for institutional investors, we can't ignore the impact of significant development and adoption in emerging markets,” he added.

This week, for the third time consecutively, Ethereum had outflows, but again it has been minor at $1.4 million. The outflows could be attributed to minor profit-taking as the price stays near ATH above $4,200.

Meanwhile, other cryptos continue to see inflows, with Solana (SOL) recording the highest among altcoins at $8.1 million, bringing in its YTD flows at $130 mln — fourth highest after Bitcoin (BTC), Ether’s (ETH) $1 bln, and $401 mln by multi-asset product. BTC -2.75% Bitcoin / USD BTCUSD $ 28,811.28
-$792.31-2.75%
Volume 35.65 b Change -$792.31 Open $28,811.28 Circulating 19.05 m Market Cap 548.85 b
4 mon SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 4 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 4 mon Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum
ETH -7.94% Ethereum / USD ETHUSD $ 1,810.13
-$143.72-7.94%
Volume 19.83 b Change -$143.72 Open $1,810.13 Circulating 120.93 m Market Cap 218.9 b
4 mon Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 4 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 4 mon The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
SOL -8.84% Solana / USD SOLUSD $ 43.97
-$3.89-8.84%
Volume 1.83 b Change -$3.89 Open $43.97 Circulating 339.4 m Market Cap 14.92 b
4 mon Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 4 mon Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum 5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows

Last week, Cardano (ADA) and Binance (BNB) also posted notable inflows at $5.3 mln and $1.8 mln, respectively. Litecoin (LTC) meanwhile had $0.6 mln, Polkadot (DOT) $0.4 mln, and both Ripple (XRP) and Bitcoin Cash (BCH) had $0.3 mln in inflows each. ADA -6.43% Cardano / USD ADAUSD $ 0.48
-$0.03-6.43%
Volume 785.33 m Change -$0.03 Open $0.48 Circulating 33.74 b Market Cap 16.24 b
4 mon Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 5 mon Solana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report
BNB -5.76% BNB / USD BNBUSD $ 308.97
-$17.80-5.76%
Volume 2.49 b Change -$17.80 Open $308.97 Circulating 163.28 m Market Cap 50.45 b
5 mon SEC Rejects Another Spot Bitcoin ETF, Binance Announces New System to Remove BNB from Circulation 5 mon BitMEX Launches BMEX Token for Active Users, US Not Eligible for Airdrop 5 mon Crypto Outliers: Terra (LUNA) Amasses $16.9 Bln & Surpass BSC, Avalanche (AVAX) Aims for 1 Million Daily Transactions
LTC -8.85% Litecoin / USD LTCUSD $ 62.86
-$5.56-8.85%
Volume 641.58 m Change -$5.56 Open $62.86 Circulating 70.37 m Market Cap 4.42 b
5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 5 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 5 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card
DOT -8.10% Polkadot / USD DOTUSD $ 9.22
-$0.75-8.10%
Volume 778.28 m Change -$0.75 Open $9.22 Circulating 987.58 m Market Cap 9.11 b
5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 5 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 5 mon Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows
XRP -3.82% XRP / USD XRPUSD $ 0.39
-$0.01-3.82%
Volume 1.91 b Change -$0.01 Open $0.39 Circulating 48.34 b Market Cap 18.79 b
5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 5 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 5 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card
BCH -6.39% Bitcoin Cash / USD BCHUSD $ 180.33
-$11.52-6.39%
Volume 2.72 b Change -$11.52 Open $180.33 Circulating 19.07 m Market Cap 3.44 b
5 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 5 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card 5 mon Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe

 

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