Crypto assets under management climbed to record highs last week ahead of the anticipated launch of the Bitcoin futures exchange-traded fund (ETF), Markets Insider reported.
Data from CoinShares indicated that total assets under management hit $72.32 billion in the week to October 15, driven by an inflow of $69.6 million into Bitcoin.
Investors poured some $225 million into Bitcoin-backed products in the past week, marking the highest in seven months ahead of the approval of the Bitcoin ETF by the corporate regulator.
Bitcoin products have gained momentum in the past weeks, driven by the interest in the futures ETF. Ethereum has posted outflows for the second straight week.
Crypto assets under management are now in a fifth straight week of inflows. BTC is up 2.47%.