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    Record inflows to cryptocurrency products boost total managed value to $116 billion

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    From November 3rd to 9th, roughly $2 billion was poured into cryptocurrency products, boosting the total amount managed to a record of $116 billion. Bitcoin attracted the most investments, with its US exchange-traded funds receiving $1.8 billion. Market positives were attributed to changes in US politics and favourable macroeconomic conditions. Other digital currencies also benefitted, including Ether, Solana, Uniswap and Tron. However, investors sold off short-Bitcoin products, leading to a $2.7 million outflow. Rising investment in digital currency helped Bitcoin reach a new high of over $82,379 by November 11th.

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    Last week saw tons of investors throwing their money into digital currencies, riding the wave of market enthusiasm after the election. CoinShares revealed that between November 3rd and 9th, almost $2 billion were invested in cryptocurrency products. This boosted the total amount of money being managed to a jaw-dropping record of $116 billion.

    For those keeping score, this was the fifth week on the trot that we saw an influx of cash into crypto, amounting to $7.7 billion. In 2024 alone, a staggering $31.3 billion has been invested so far.

    Bitcoin, as might be expected, was the top dog. Its US-based exchange-traded funds (ETFs) received the most investments last week. Overall, Bitcoin attracted $1.8 billion, and since interest rates were slashed by the US Federal Reserve – the first time this has happened in four years – Bitcoin has pulled in $9 billion.

    According to experts at CoinShares, the overall positive vibes around investing in digital currencies is likely due to the recent changes in US politics, plus favorable macroeconomic conditions. More than half of all investments came from the US, around $1.95 billion. Europe also chipped in, although not as much, with Switzerland and Germany adding $23 million and $20 million respectively. On the flip side, investors in Sweden seemed to be cashing out, selling off $25.7 million worth of assets.

    Ether ETFs also had a good week. After a period of so-so demand, the first week of November saw a surge of $157 million invested in Ether, the biggest since Ether ETFs first started trading in July.

    On top of Bitcoin and Ether’s successes, some of the less famous digital currencies – known as altcoins – also attracted investors. For example, Solana (SOL) products saw a $3.9 million influx, while Uniswap (UNI) and Tron (TRX) bagged $1 million and $0.5 million respectively.

    But not all coins were winners last week. Investors were selling off short-Bitcoin products, causing a $2.7 million outflow.

    Excitingly, with all this money flowing into digital currency, the price of Bitcoin hit a new all-time high of over $80,000 on November 10th. And it hasn’t stopped there, it kept climbing and had reached over $82,379 by November 11th, according to CoinGecko.

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