![Bitcoin Investment Products Witness $1.5 Billion Year-to-Date Inflows](http://media.assettype.com/voiceofcrypto%2Fimport%2Fwp-content%2Fuploads%2F2023%2F12%2Fwebsite-5-dec-82_11zon.jpg?w=480&auto=format%2Ccompress&fit=max)
Crypto ETPs, one of the most popular investment products for tracking the performance of cryptos, have crossed a massive milestone according to a recent report.
According to CoinShares, crypto ETPs or exchange-traded products, have recently seen staggering inflows of over $1 billion on a year-to-date basis.
What does this mean, and what are the full details?
According to data from CoinShares that was published this week, crypto ETPs have seen a surge of inflows in the past nine weeks.
Coinshares reports that a total of $1.5 billion has been poured into ETPS by investors from the start of the year until date, as illustrated below.
CoinShares says that Bitcoin ETPs accounted for about $312 million of the inflows in the week, as of 24 November.
This level also sits at the highest it has been since May, putting the weekly inflows for all crypto ETPs at $346 million at the time of writing.
This means that for the past nine weeks, inflows into crypto ETPs have been consistently green.
According to CoinShares, Canadian and German ETPs dominated the inflows for the week as of 24 November.
This represents a whopping 87% of the total.
This is unsurprising since Canada was one of the first countries to implement crypto ETPs.
Canada was also one of the first countries to approve the first Bitcoin ETF in North America this year, in February. Germany too, has also been a hotspot for crypto ETPs, as several issuers are beginning to launch ETP products on the Frankfurt Stock Exchange.
The performance of the United States, however, was disappointing. While the likes of Canada and Germany recorded inflows of $199 million and $101 million, the US came in at third place, with only $30 million of inflows for the week.
This may or may not be related to how the US SEC has dragged its feet over the approval of a spot Bitcoin ETF, despite receiving dozens of applications from various firms.
CoinShares' report shows that the crypto ETP market has grown significantly in the past year.
The total AUM (assets under management) has also reached a record high of $45.4 billion as of Nov. 24.
In essence, we can conclude that investors are becoming more and more interested in the potential of cryptocurrencies in the traditional finance space.
Overall, the weeks of consecutive inflows are expected to continue, as the crypto community eagerly waits for the approval of a spot Bitcoin ETF in the US.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.