Bitcoin has hit a new record, but the beginning of this news can be found in September. Let's consider.
A Coinshares whitepaper published in September showed that cryptocurrency inflows into mutual funds for Week 36, September, hit $98,000,000 dollars. It is the highest inflow recorded in 16 months. Bitcoin weekly inflows were at $58,900,000 dollars, rising above its month-to-date flow of $50.3M and breaking an 8-week streak of outflows.
Bitcoin had the highest Year-to-date inflows out of the cryptocurrencies measured, at $4.238B dollars, followed by Ethereum at $991M.
Among the mutual providers surveyed, Greyscale was the only one with total weekly inflows of all cryptocurrencies less than $100K. They are followed by 3iQ and Bitwise with a weekly inflow of $200K each, then by "Other" mutual funds with $13.9M of total weekly asset flows, then by 21Shares with $29.8M total weekly asset flows. ETC Group recorded the highest total weekly asset flows at $69.7M.
Interestingly, Purpose, Coinshares Physical, and Coinshares XBT all recorded negative inflows for the weekly total, at -$4.2M, -$1.6M, and -$10.2M, respectively.