Investors Invested $1.32 billion in crypto Products within Eight weeks

20.11.2023 16:13

The inflow into cryptocurrency investment products from November 11 to 17 amounted to $175.6 million. Over the past eight weeks, investors have invested a total of $1.32 billion, according to the CoinShares report.

"The pace remains significantly lower than in 2021 and 2020, which amounted to $10.7 billion and $6.6 billion, respectively," experts calculated.

Data: CoinShares.

Crypto-ETP trading volumes doubled to $3 billion.

$154.7 million was invested in bitcoin-related products, whereas in the previous period the amount was $240 million. Inflows over the past eight weeks have reached 3.4% of AUM ($30.78 billion).

Clients of management companies withdrew $8.5 million from the structures that allow them to open short on the first cryptocurrency, against $7 million a week earlier.

Analysts associated the continuation of trends with expectations of SEC approval спотового-биткоин-ETF.

Ethereum- The funds raised $3.3 million after the maximum since August 2022 of $49.1 million in the previous reporting period.

Solana—based instruments were allocated again - $13.6 million against $12.4 million a week earlier. 

Data: CoinShares.

Earlier, K33Research analysts recorded a record amount of assets in bitcoin products (204,170 BTC). 

Recall that Matrixport predicted an increase in the price of the first cryptocurrency to $40,000-45,000 in 2023.

Prior to that, analysts indicated that the bitcoin shortists would be overtaken by the "Santa Claus squiz".

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