Crypto-Fund Assets Hit All-Time High With US Bitcoin Futures ETF on Cusp

Posted on by American Coins & Gold

Crypto-Fund Assets Hit All-Time High With US Bitcoin Futures ETF on Cusp
Investors piled into crypto funds last week ahead of the U.S. Securities and Exchange Commission’s (SEC) approval of the nation’s first futures-based bitcoin exchange-traded fund (ETF) on Friday.The rise of fresh capital contributed to a boost in total assets under management, now $72.3 billion, the highest on record, according to a report Monday by CoinShares.The increase came as bitcoin’s price surged 12% last week, pushing above $60,000 for the first time since April. Inflows to crypto funds totaled $80 million for the week ending Oct. 15, down from $225 million of inflows during the prior week.The SEC approved the ProShares…