Crypto funds pull in three-month high inflows

Net inflows into cryptocurrency investment products from November 5 to 11 totaled $42 million, versus outflows of $15.6 million a week earlier. Analysts at CoinShares reported these estimates.

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Investors saw in the collapse of FTX an opportunity for investment, — experts explained.

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Traditional Bitcoin funds saw the largest inflows since August, amounting to $19 million, versus outflows of $13.2 million a week earlier.

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In structures that allow shorting on the first cryptocurrency, $12.6 million flowed in (a week earlier there were outflows of $7.1 million).

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Inflows to Ethereum funds totaled $2.5 million — almost as much as in the previous reporting period ($2.7 million).

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Basket-based altcoin funds attracted the largest inflows since June 2022, at $8.4 million. Investors view them as a relatively safe haven, the analysts noted.

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Binance CEO Changpeng Zhao compared the current situation in the crypto industry with the 2008 financial crisis. He believes that in the coming weeks even more companies may collapse.

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