InstaForex

November 4, 2021

Crypto Investment Products Are Boosting With A 30% Jump This Year Compared To 2020

 The crypto sector continued to show impressive growth with record inflows of cryptocurrency investment products totaling $ 288 million last week.


Indirectly, the record shows a 30% higher increase than performance in 2020.


Overall, Bitcoin (BTC) led with a record inflow of $ 269 million last week, lower than the previous week which saw inflows totaling $ 1.45 billion.


The factor that invited the surge in inflows into Bitcoin investment products was driven by interest in the Bitcoin ETF after it was launched by ProShares in mid -October when it was approved by the SEC.


As a result, the BTC price also recorded a jump to a new all -time high (ATH), $ 67,000 on October 20th.



Indirectly, the altcoins market is also following the BTC surge.


For example Ethereum has recorded an inflow of $ 17 million in the last week after witnessing an outflow for three weeks in a row.


The influx of this latest fund flow shows Altair’s update at the end of October was a success, in addition to two consecutive ETH price spikes-first, $ 4,405.99 on Oct. 29 and second, $ 4,605.18 on paddy earlier.


While for other assets such as Solana (SOL) saw an inflow of $ 15 million, Polkadot (DOT) was worth $ 6 million, and Cardano (ADA) recorded an inflow of $ 5 million.


While multi-asset investment products saw a record outflow of $ 23 million, signifying investors are interested in one product and becoming more savvy about their altcoins.