Crypto Investment Products Attract Massive $103M Inflows, Surpassing Previous Week’s Record
Following a $16 million outflow in the prior week, crypto fund offerings rebounded, attracting $103 million in inflows by the week ending December 22.
In the week ending December 22, cryptocurrency investment products recorded $103 million in inflows, countering the previous week’s $16 million outflows, as reported by CoinShares. Over the last 13 weeks, crypto exchange-traded products (ETPs) have seen 12 weeks of inflows.
Bitcoin (BTC) registered the highest inflows among cryptocurrencies, reaching over $87.6 million, comprising 85% of the total. Ether (ETH) followed as a distant second with $7.9 million in inflows, while Litecoin (LTC) and Avalanche (AVAX) ETPs showed net outflows of $400,000 and $2.6 million, respectively, contrary to the overall trend.
Germany led with over 40% of total inflows, followed by Canada at 25%, while the United States contributed 20%, and Switzerland nearly 15%.
The current uptrend in crypto fund products began on September 29 after eight of nine preceding weeks showed outflows.
CoinShares theorized that recent inflows could stem from trader optimism regarding the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the US. If approved, there could be increased demand for crypto funds, notably Bitcoin.
The week concluding on November 24 marked the highest inflows in the 13-week period, totaling $346 million. Although flows have decelerated significantly since then, the overall trend remains positive.
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