Crypto funds post $346m inflow over the week

Inflows into crypto investment products from 18 to 24 November totalled $346m — the largest in nine weeks. This is according to the report CoinShares.

“This rise, driven by expectations for the launch of a spot ETF in the United States, is the largest since the end of the 2021 bull market. The combination of price gains and capital inflows has pushed assets under management (AUM) to $45.3bn,” analysts noted.

Bitcoin-related products attracted $311.5m, compared with $154.7m a week earlier. Since the start of the year inflows have totalled just over $1.5bn.

Among instruments that allow short exposure to the first cryptocurrency, clients of asset managers pulled out $0.9m — the outflow continued for a third straight week.

Ethereum funds attracted $33.5m, whereas in the previous reporting period the figure was a modest $3.3m. Over four weeks inflows totalled $103m — analysts say this has “almost corrected the year’s outflows,” and signalled a decisive turning point in sentiment.

In Solana-, Polkadot- and Chainlink-based instruments, inflows of $3.5m, $0.8m and $0.6m respectively.

Earlier, K33Research analysts recorded a record volume of assets in Bitcoin products (204,170 BTC).

Earlier, Matrixport described the breach of the $40,000 level by Bitcoin as “inevitable” after regulators settled claims against Binance and its former CEO Changpeng Zhao.