CoinShares

CoinShares: The inflow of digital asset investment products this year to date is $44.5 billion, more than four times that of other years

ChainCatcher news, according to CoinShares' latest weekly report, digital asset investment products continued to attract inflows last week, totaling $3.2 billion, marking the tenth consecutive week of inflows. Year-to-date, the total inflow has reached $44.5 billion, more than four times that of any other year. The average weekly trading volume of ETPs reached $21 billion, accounting for 30% of the total Bitcoin traded on trusted exchanges. In trusted exchanges, Bitcoin trading volume is highly liquid, with an average daily trading volume of $8.3 billion this year, which is twice that of the FTSE 100 index. In terms of regional capital flows, all regions experienced inflows, with overall sentiment generally positive, particularly in the U.S., Switzerland, Germany, and Brazil, which saw inflows of $3.1 billion, $36 million, $33 million, and $25 million, respectively.Bitcoin investment products attracted $2 billion in inflows, bringing the total inflow since the U.S. elections to $11.5 billion. Although the total assets under management (AuM) remain at a low level of $130 million, recent price increases have attracted $14.6 million in inflows for Bitcoin short products. Ethereum attracted inflows for the seventh consecutive week, totaling $1 billion, with total inflows over these seven weeks reaching $3.7 billion, indicating a significant improvement in market sentiment. With hopes for U.S.-listed ETFs rising, altcoin XRP attracted $145 million in inflows, while Polkadot and Litecoin attracted $3.7 million and $2.2 million in inflows, respectively.

CoinShares: Listed mining companies' average Bitcoin mining cost in Q3 rose to $55,950, a year-on-year increase of 13%

ChainCatcher news, CoinShares' latest research report shows that the average cash mining cost of publicly listed mining companies for Bitcoin in the third quarter rose to $55,950, an increase of 13% from $49,500 in the second quarter. When accounting for non-cash costs such as depreciation and stock-based compensation, the average mining cost will reach $106,000.The report points out that the rise in mining costs is mainly influenced by three factors: the AI boom has diverted expansion funds from mining companies; some mining companies are focusing on a holding strategy (HODL) rather than expanding their operations; and the summer electricity costs in Texas have impacted mining production.In terms of specific mining company performance, Marathon has become the mining company with the lowest cash costs, mainly benefiting from increased Bitcoin production and tax incentives; TeraWulf saw a significant decrease in debt expenses by 92%, reducing costs by 20%, ranking third; Riot, despite improving operational efficiency, has dropped to seventh place.Looking ahead to 2025, the report predicts that AI business may bring new opportunities for mining companies like TeraWulf and Cipher; machine costs may increase with the rise in Bitcoin prices; and some mining companies may face financial pressure, suggesting a focus on risks.
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