Crypto fund inflows exceed $1 billion over seven weeks

Inflows into crypto investment products from November 4 to 10 amounted to $293 million. Over seven weeks, cumulative inflows exceeded $1 billion, according to a CoinShares report.

Year-to-date inflows stood at $1.14 billion — the third-largest annual figure on record. Over the last week, assets under management (AUM) rose 9.6%; since January, it has surged 99%. As of November 10, it stood at $44.4 billion.

Bitcoin-linked products attracted $240 million, compared with $228.9 million in the previous period.

Among structures enabling short exposure to the first cryptocurrency, clients of asset managers withdrew $7 million, versus inflows of $4.5 million a week earlier.

Ethereum funds attracted $49 million — the highest since August 2022 (the previous reporting period: $17.5 million). According to CoinShares, the rise was driven by news of a spot ETF on the second-largest cryptocurrency.

Solana-based instruments again stood out — $12 million, versus $11 million a week earlier.

Earlier, FalconX analysts identified precursors to the development of ‘Uptober’ in the crypto market. They say the fuel for price gains will be rising institutional interest and a shrinking number of sellers.

Earlier, the CME’s head of digital assets, Dio Vichiozo, reported record interest in Bitcoin- and Ethereum- derivatives in Q3.