Looks like Bitcoin and Ethereum are having quite the party this Moonvember. The crypto market is on fire, with investment products raking in a whopping $2.2 billion just last week. That's pushed the total inflows for 2024 to a mind-boggling $33.5 billion, according to the latest report from CoinShares.

The best part? All this excitement has boosted the total assets under management for crypto investment products to an all-time high of $138 billion.

Bitcoin, the OG crypto, is still the star of the show. It attracted $1.48 billion in inflows last week alone. Seems like everyone wants a piece of the Bitcoin pie, especially with its price recently hitting a new all-time high above $93,000.

The US-based Bitcoin ETFs are really stealing the spotlight. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin ETF (FBTC) are seeing some serious action. IBIT pulled in $2.1 billion, while FBTC added $4 million to its coffers.

Not to be outdone, Ethereum is making waves too. After a bit of a rough patch, ETH-based products are back in the game with $646 million in inflows. That's about 5% of Ethereum's total assets under management—not too shabby.

Some folks are saying this Ethereum comeback might have something to do with a proposed network upgrade called the Beam Chain. Plus, the recent US elections seem to have put a spring in crypto's step.

So, what's driving all this crypto craziness? Well, it looks like a perfect storm of factors. James Butterfill, the head honcho of research at CoinShares, thinks it's a mix of looser monetary policy and the Republican party's clean sweep in the recent US elections.

The US is leading the charge, with $2.21 billion of the total weekly inflows coming from American investors. But it's not just the Yankees getting in on the action. Hong Kong, Australia, and Canada are all throwing their hats in the ring too.

While the week started with a bang and $3 billion in inflows, Bitcoin's record-breaking price actually led to some folks cashing out. We saw about $866 million in outflows after Bitcoin hit its new high.

And get this—some traders are actually betting against Bitcoin. Short-Bitcoin products saw $49 million in new investments.

The Moonvember craze isn't just affecting Bitcoin and Ethereum. Other cryptocurrencies are getting in on the action too. Solana, XRP, and Cardano all saw some love from investors, with inflows of $24 million, $4.3 million, and $3.4 million respectively.

Even the big boys on Wall Street are dipping their toes in crypto. Goldman Sachs, one of the biggest names in finance, has seriously upped its crypto game. They now hold a whopping $710 million worth of various spot Bitcoin ETFs.

Goldman also increased their stake in BlackRock's iShares Bitcoin Trust by 83% compared to last quarter. They're now the second-largest holder of IBIT, just behind hedge fund Millennium Management.

While the US is leading the charge, the crypto fever is spreading globally. Hong Kong saw $27 million in inflows, Australia added $18 million, and Canada chipped in $13 million.

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