Bitcoin sees $3B inflows as price nears $100K

Digital asset investment products recorded $3.13 billion in inflows last week, with Bitcoin (CRYPTO:BTC) accounting for a significant $3 billion as its price approached $100,000.  

According to CoinShares, this brought total investments since mid-September, the beginning of U.S. interest rate cuts, to $15.2 billion.  

Year-to-date inflows have reached $37 billion, marking a new milestone.  

CoinShares highlighted that this outshines the initial success of U.S. Gold ETFs, which attracted only $309 million in their first year.

Bitcoin ETFs led with the highest weekly inflows on record.  

However, alongside Bitcoin’s bullish momentum, short-Bitcoin products saw notable activity, attracting $10 million last week.

Over the past month, short-Bitcoin inflows reached $58 million, the highest monthly total since August 2022.  

Among altcoins, Solana (CRYPTO:SOL) led with $16 million in inflows, significantly exceeding Ethereum’s (CRYPTO:ETH) $2.8 million.  

Other notable performers included XRP (CRYPTO:XRP), Litecoin (CRYPTO:LTC), and Chainlink (CRYPTO:LINK), which drew $15 million, $4.1 million, and $1.3 million, respectively.  

Cardano (CRYPTO:ADA) recorded $0.7 million in inflows during the same period.  

In contrast, multi-asset investment products experienced outflows for the second consecutive week, with $10.5 million exiting the market.  

Regional differences also emerged.  

The United States saw $3.2 billion in inflows, while Sweden, Germany, and Switzerland recorded outflows of $84 million, $40 million, and $17 million, respectively, attributed to profit-taking after recent price surges.  

Brazil also faced a significant outflow of $12.5 billion.  

Meanwhile, Canada, Hong Kong, and Australia offered a more positive outlook, attracting inflows of $31 million, $30 million, and $9 million, respectively, as sentiment improved in these regions.  

At the time of reporting, the Bitcoin (BTC) price was $94,146.53.