Inflows in Cryptocurrency Investment Products Drop to $15.2 Million
The latest data from CoinShares analysts reveals that inflows in cryptocurrency investment products between October 7 and October 13 amounted to $15.2 million, a significant decrease from the previous week’s $78.4 million. This figure is 27% below the average for 2023. It’s important to note that this data does not account for positive developments in the digital gold market, such as the SEC’s decision not to appeal the court’s ruling on converting the Grayscale Bitcoin Trust into an ETF. Market observers believe that this decision has increased the likelihood of the product launch.
Specifically, Bitcoin (BTC) funds saw an inflow of $16.4 million, compared to $42.7 million in the previous reporting period. Additionally, investors allocated $1.7 million to products that enable short positions on Bitcoin, up from $1.2 million the week before.
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