• Institutional Bitcoin Buying Booms, US ETFs Dominate, and India's Crypto Craze Heats Up!

  • Dec 17 2024
  • Length: 3 mins
  • Podcast

Institutional Bitcoin Buying Booms, US ETFs Dominate, and India's Crypto Craze Heats Up!

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  • The Bitcoin & Cryptocurrency Investment Show podcast.

    Hey there, crypto enthusiasts It's your buddy Crypto Willy here, and I've got the scoop on the latest Bitcoin investment news from the past two weeks. Let's dive in!

    First off, institutional adoption is on the rise. According to 13F-filings, there's been a 27% increase in institutional buying of spot Bitcoin ETFs since the prior quarter, with over 262 new firms investing in these funds by June 30[2]. This shows that institutions are still confident in Bitcoin, despite some market volatility.

    Now, let's talk ETF updates. Canadian Bitcoin ETFs have seen significant outflows this year, with C$578 million in net outflows through December 13, according to TD Securities Inc. This is largely due to the launch of US Bitcoin ETFs, which have seen a record $36 billion in inflows through December 16[1]. Vlad Tasevski, head of asset management at Purpose Investments Inc., notes that larger US and international investors are now preferring US ETFs due to their higher liquidity and lower management fees.

    On the other hand, cryptocurrency investment products saw their highest weekly inflows ever last week, with $3.85 billion pouring into these funds amid a cryptocurrency market rally. Bitcoin-focused investment products saw a $2.56 billion inflow, while Ethereum-focused products saw a record $1.15 billion inflow[4].

    Market sentiment is also looking positive, with the recent US presidential election sparking big gains in Bitcoin ETFs and an influx of cash. The Purpose Bitcoin ETF, for example, saw a 19.4% rise post-election, with other Canadian Bitcoin ETFs also seeing significant gains[5].

    In terms of macro factors affecting crypto markets, the US election has been a significant driver of investor interest and confidence. As Paul Cappelli, head of ETF strategies at Galaxy, notes, "The US presidential election and the resulting expectations of a more friendly regulatory environment for crypto in the US have been a slight bright spot for Canadian funds."

    Lastly, Indian investors are showing a growing interest in cryptocurrency, with March and November emerging as the most active months for crypto trading in 2024. According to CoinSwitch's annual investor report, Delhi, Bengaluru, and Mumbai are the top three cities in crypto investments, with tier-2 and tier-3 cities also showing strong adoption[3].

    That's all for this week, folks Stay tuned for more updates from the world of Bitcoin and cryptocurrency investment. Until next time, stay crypto-tastic!

    Your buddy,
    Crypto Willy

    Get the best deals https://amzn.to/3ODvOta
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