Inflow into crypto funds continues for third consecutive week
Inflows in crypto currency investment products from October 7 to October 13 reached $15.2 million, compared to $78.4 million a week earlier. According to CoinShares analysts, the amount was 27% below the 2023 average. Experts explained that the data provided does not include positive news for digital gold regarding the SEC’s refusal to appeal the court’s decision in the case of converting the Grayscale Bitcoin Trust into an ETF. Such developments have increased the chances of the product launch, according to market observers. Bitcoin (BTC) funds recorded an inflow of $16.4 million compared to $42.7 million in the previous reporting period. Investors invested $1.7 million in products that allow opening shorts on the first crypto currency (a week ago it was $1.2 million). Source: CoinShares Meanwhile, investors withdrew $7.4 million from Ethereum (ETH) funds . The previous week, against the backdrop of the start of trading in Ethereum-ETF futures, there was an influx of $10.2 ...