October has seen some of the biggest inflows into the crypto space through stock traded products according to the latest report by Coinshares.
A record $8.7 billion has bought bitcoin through ETFs and ETNs this year so far, surpassing all of 2020 by 30%.
$2 billion of it was bought last month with the newly launched BITO bitcoin futures ETF making up more than half of October’s inflow.
Other cryptos have seen far less attention, with ethereum ending a dry spell following purchases worth $17 million last week, bringing the total to $1 billion for the year.
It’s not clear whether some of that skew, whereby bitcoin does in one month twice what eth did in one year, is due to some ETPs not being accounted. But total crypto stock assets are now closing in on $80 billions.
More than $53 billion of that is in bitcoin and closing in on $20 billion is on ethereum.
Grayscale remains distantly dominant at $55 billion, showing that USA has unlocked something in stock investing that Europe has not yet.
While these figures in general clearly illustrate that demand for cryptos has significantly picked up as both bitcoin and eth now stand near or above all time high.
Source: https://www.trustnodes.com/2021/11/03/2-billion-bought-bitcoin-in-october
