$3.2 billion crypto inflow marks 10-week streak as Trump election victory boosts confidence
CoinShares reported $3.2 billion in inflows to the crypto sector last week, marking the longest streak of positive flows this year at 10 weeks. Year-to-date inflows total $44.5 billion, four times higher than any previous annual record. Bitcoin-related investment products saw $2 billion in inflows, totaling over $11 billion since Donald Trump's election victory in November. The US market led inflows with $3.1 billion, followed by Switzerland, Germany, and Brazil. Bitcoin ETPs averaged $21 billion in weekly trading volumes, accounting for 30% of Bitcoin trading on trusted exchanges. Short Bitcoin products gained $14.6 million in inflows, reaching $130 million in assets under management. Ethereum recorded its seventh consecutive week of inflows with $1 billion added, totaling $3.7 billion during this period. XRP attracted $145 million in inflows, while Polkadot and Litecoin saw $3.7 million and $2.2 million, respectively. As of December 16, 2024, Bitcoin's price is $103,761.32, with a market cap of $2.05 trillion. The total crypto market is valued at $3.65 trillion.
