{"id":650366,"date":"2024-10-29T04:30:26","date_gmt":"2024-10-29T04:30:26","guid":{"rendered":"https:\/\/wncen.com\/?p=650366"},"modified":"2024-10-28T17:13:04","modified_gmt":"2024-10-28T17:13:04","slug":"bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom\/","title":{"rendered":"Bitcoin Dominates $3.4 Billion October Crypto Inflows\u2014What\u2019s Behind the Boom?"},"content":{"rendered":"

Investment activity in digital assets surged almost throughout October, as crypto investment products, especially that of Bitcoin, experienced substantial inflows, according to the latest data<\/a> released by CoinShares.<\/p>\n

Last week alone, global crypto funds attracted $901 million in net inflows, pushing the total for the month to $3.4 billion.<\/p>\n

Related Reading: Bitcoin Price Rebounds Above $67,000 As Whales Continue to Accumulate<\/a><\/div>\n

Bitcoin Dominates Inflows As Ethereum Sees Outflows<\/h2>\n

According to CoinShares, out of the total fund flows recorded, Bitcoin-centric investment products captured the lion\u2019s share of inflows, with $920 million in net additions over the past week.<\/p>\n

US spot Bitcoin exchange-traded funds (ETFs) recorded $997.6 million in net inflows, led largely by BlackRock’s iShares Bitcoin Trust (IBIT).<\/p>\n

Bitcoin’s dominance was notable, with blockchain equities and Solana-based products also seeing inflows<\/a> of $12.2 million and $10.8 million, respectively.<\/p>\n

\"Crypto
Crypto asset flows. | Source: CoinShares<\/figcaption><\/figure>\n

However, other Bitcoin-based products, including those outside US markets, faced some net outflows. While Bitcoin maintained strong inflows, Ethereum-based funds recorded net outflows of $34.7 million last week, signaling a decrease in investor interest<\/a>.<\/p>\n

CoinShares reported that Ethereum\u2019s price ratio to Bitcoin had fallen to its lowest point since April 2021, which could be contributing to this outflow trend.<\/p>\n

The data suggests that while Ethereum has seen gains in the past<\/a>, investors are now focusing more on Bitcoin, possibly anticipating future regulatory clarity and further mainstream adoption with developments like spot ETFs.<\/p>\n

Regional Trends And Behind The Boom<\/h2>\n

Geographically, US-based crypto funds attracted a substantial $906 million in net inflows last week. In contrast, other regions saw mixed results, with funds based in Sweden, Canada, Brazil, and Hong Kong collectively experiencing $29.1 million in net outflows.<\/p>\n

\"Crypto
Crypto asset flows by region. | Source: CoinShares<\/figcaption><\/figure>\n

This difference highlights the United States’ growing role in shaping the global crypto investment market, especially as American firms like BlackRock and Fidelity expand their crypto offerings<\/a>.<\/p>\n

According to CoinShares’ Head of Research, James Butterfill reveals that the we political climate likely influences the recent Bitcoin price movements and increase in inflows. He noted that Republican gains in the polls correlate with increased interest in Bitcoin investments.<\/p>\n

Related Reading: Bitcoin Stock To Flow Model Shows Price Is Ready For Next Phase Transition Above $100,000<\/a><\/div>\n

This suggests that market participants may see a shift in political power as favourable to digital assets<\/a>, potentially driving anticipation of regulatory reforms or even greater crypto acceptance.<\/p>\n

CoinShares report shows that the October influx represents roughly 12% of assets under management (AUM) in digital asset funds and marks the fourth-largest month for inflows on record. This brings the year-to-date total to $27 billion, almost tripling the previous high of $10.5 billion set in 2021.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured imahge created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment activity in digital assets surged almost throughout October, as crypto investment products, especially that of Bitcoin, experienced substantial inflows, according to the latest data released by CoinShares. Last week alone, global crypto funds attracted $901 million in net inflows, pushing the total for the month to $3.4 billion. Related Reading: Bitcoin Price Rebounds Above $67,000 As Whales Continue to Accumulate Bitcoin Dominates Inflows As Ethereum Sees Outflows According to CoinShares, out of the total fund flows recorded, Bitcoin-centric investment products captured the lion\u2019s share of inflows, with $920 million in net additions over the past week. US spot Bitcoin exchange-traded funds (ETFs) recorded $997.6 million in net inflows, led largely by BlackRock’s iShares Bitcoin Trust (IBIT). Bitcoin’s dominance was notable, with blockchain equities and Solana-based products also seeing inflows of $12.2 million and $10.8 million, respectively. However, other Bitcoin-based products, including those outside US markets, faced some net outflows. While Bitcoin maintained strong inflows, Ethereum-based funds recorded net outflows of $34.7 million last week, signaling a decrease in investor interest. CoinShares reported that Ethereum\u2019s price ratio to Bitcoin had fallen to its lowest point since April 2021, which could be contributing to this outflow trend. The data suggests that while Ethereum has seen gains in the past, investors are now focusing more on Bitcoin, possibly anticipating future regulatory clarity and further mainstream adoption with developments like spot ETFs. Regional Trends And Behind The Boom Geographically, US-based crypto funds attracted a substantial $906 million in net inflows last week. In contrast, other regions saw mixed results, with funds based in Sweden, Canada, Brazil, and Hong Kong collectively experiencing $29.1 million in net outflows. This difference highlights the United States’ growing role in shaping the global crypto investment market, especially as American firms like BlackRock and Fidelity expand their crypto offerings. According to CoinShares’ Head of Research, James Butterfill reveals that the we political climate likely influences the recent Bitcoin price movements and increase in inflows. He noted that Republican gains in the polls correlate with increased interest in Bitcoin investments. Related Reading: Bitcoin Stock To Flow Model Shows Price Is Ready For Next Phase Transition Above $100,000 This suggests that market participants may see a shift in political power as favourable to digital assets, potentially driving anticipation of regulatory reforms or even greater crypto acceptance. CoinShares report shows that the October influx represents roughly 12% of assets under management (AUM) in digital asset funds and marks the fourth-largest month for inflows on record. This brings the year-to-date total to $27 billion, almost tripling the previous high of $10.5 billion set in 2021. Featured imahge created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":650372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,1119,78790,10923,8323,1946,91844,12837,83626],"class_list":["post-650366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto-market","tag-eth","tag-ethereum","tag-ethereum-market","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nBitcoin Dominates $3.4 Billion October Crypto Inflows\u2014What\u2019s Behind the Boom?<\/title>\n<meta name=\"description\" content=\"Investment activity in digital assets surged almost through out October, as crypto investment products especially that of Bitcoin...\" \/>\n<meta name=\"robots\" content=\"index, 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Dominates $3.4 Billion October Crypto Inflows\u2014What\u2019s Behind the Boom?","url":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-28-17.36.35-A-digital-illustration-showing-Bitcoin-dominating-Octobers-3.4-billion-crypto-inflows-highlighting-the-surge.-The-image-features-the-Bitcoin-symbol.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-28-17.36.35-A-digital-illustration-showing-Bitcoin-dominating-Octobers-3.4-billion-crypto-inflows-highlighting-the-surge.-The-image-features-the-Bitcoin-symbol.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto market","eth","ethereum","ethereum market","sol","solana"],"dateCreated":"2024-10-29T04:30:26Z","datePublished":"2024-10-29T04:30:26Z","dateModified":"2024-10-29T04:30:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Dominates $3.4 Billion October Crypto Inflows\\u2014What\\u2019s Behind the Boom?\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-dominates-3-4-billion-october-crypto-inflows-whats-behind-the-boom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-28-17.36.35-A-digital-illustration-showing-Bitcoin-dominating-Octobers-3.4-billion-crypto-inflows-highlighting-the-surge.-The-image-features-the-Bitcoin-symbol.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-28-17.36.35-A-digital-illustration-showing-Bitcoin-dominating-Octobers-3.4-billion-crypto-inflows-highlighting-the-surge.-The-image-features-the-Bitcoin-symbol.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto market\",\"eth\",\"ethereum\",\"ethereum market\",\"sol\",\"solana\"],\"dateCreated\":\"2024-10-29T04:30:26Z\",\"datePublished\":\"2024-10-29T04:30:26Z\",\"dateModified\":\"2024-10-29T04:30:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-28-17.36.35-A-digital-illustration-showing-Bitcoin-dominating-Octobers-3.4-billion-crypto-inflows-highlighting-the-surge.-The-image-features-the-Bitcoin-symbol.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/650366"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=650366"}],"version-history":[{"count":3,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/650366\/revisions"}],"predecessor-version":[{"id":650388,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/650366\/revisions\/650388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/650372"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=650366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=650366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=650366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}