Publicly traded crypto funds worldwide absorbed over $61 million in new capital on Monday—enough to account for more than 10% of all net deposits into crypto funds since the start of the year—and almost all if it was funneled into Bitcoin funds.

The influx of capital occurred as Bitcoin (BTC)’s price swelled to $35,000 on Monday as investors grow more eager for a spot Bitcoin ETF to reach the U.S. market. Nearly all those inflows—$57 million—went into BTC-based funds, with another $5.7 million going toward Solana (SOL).

“The flows have been primarily from Germany and Canada, and very little from the U.S. so far,” explained James Butterfill, Head of Research at CoinShares, in a message to Decrypt.

Germany and Canada are among a handful of developed countries to launch spot Bitcoin ETFs—funds for which shares are directly redeemable for a fixed slice of underlying BTC.

Germany’s ETC Group received $24.3 million of inflows to its crypto products, while Canada’s Purpose Investments—the world’s first Bitcoin ETF provider—received $10.9 million. Meanwhile, products from 21Shares AG absor

Go to Source to See Full Article
Author: Andrew Throuvalas

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details