As Bitcoin (BTC) trades near $35,000, fresh money is entering the crypto market. Last week, there was a total inflow of $261 million in crypto investment products.
Crypto Investment vehicles such as exchange-traded products (ETPs) and Trusts are important means for institutional investors and other big investors to get crypto exposure. They prefer digital investment products over direct crypto custody due to regulatory challenges or other accounting-related reasons.
Crypto Investment Products See Inflows For Sixth Consecutive Week
According to a CoinShares report, last week, there was an inflow of $261 million for crypto investment products. That being said, it marked the sixth consecutive week of positive net flows.
During these six weeks, there was a total inflow of $767 million. Interestingly, it is more than the total inflows for the whole of 2022, which stood at $736 million.
Read more: Crypto Hedge Funds: What Are They and How Do They Work?
Out of the total inflows last week, Bitcoin received over 85% of the share, with nearly $229 million of inflows. There was an inflow of $17.5 million in Ethereum (ETH), the highest since August 2022. Whereas Solana, whose price has nearly doubled since last month, saw an inflow of $10.8 million.
Conversely, Short Bitcoin saw inflows of $4.5 million, indicating that some investors are bearish for the current price levels.
Read more: How to Short Bitcoin: A Step-by-Step Guide.
There is various other information suggesting that the big monies has started to enter the crypto ecosystem. For instance, on Oct. 24, BeInCrypto reported that there had been an increase in daily Bitcoin transactions exceeding $100,000.
Do you have anything to say about crypto investment products’ inflows or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
Be the first to comment