Cryptocurrency Investment Products See Record $33.5 Billion Year-to-Date Inflows
Author: Content Editor
Cryptocurrency investment products have seen a record $33.5 billion in inflows this year, with over $2.2 billion coming in the past week. The total assets under management of these products have reached a new high of $138 billion. Bitcoin and Ethereum have been the most popular choices for investors, with $1.48 billion and $646 million in inflows respectively. However, multi-crypto products and Binance's BNB token saw outflows. The surge in activity is attributed to looser monetary policy and the Republican party's clean sweep in the US elections. In related news, Goldman Sachs has increased its exposure to Bitcoin exchange-traded funds (ETFs), holding $710 million worth of various spot Bitcoin ETFs. The bank's holdings in popular Bitcoin funds have increased significantly from the previous quarter.