Inflows into cryptocurrency investment products from January 6 to 12 rose to $1.19 billion, approaching the historical peak of $1.5 billion during the launch of futures ETFs in October 2021, according to a report by CoinShares.
Trading volumes reached an all-time high of $17.5 billion. For comparison, in 2022, the average figure was $2 billion.
This figure is equivalent to nearly 90% of the trading volume of TradFi exchanges, although this ratio typically ranges from 2-10%.
Investors poured $1.16 billion into bitcoin-related instruments. Inflows over the past nine weeks are equivalent to 3% of AUM.
Structures allowing short positions on the leading cryptocurrency recorded an inflow of $4.1 million (the previous week — $0.9 million).
Ethereum funds attracted $25.7 million (in the previous reporting period — $29.6 million).
Investors allocated $2.2 million, $1.4 million, and $0.8 million into XRP, Cardano, and Litecoin-based instruments, respectively.
Solana-based funds, after an outflow of $5.3 million the previous week, attracted $0.5 million.
Analysts at 10x Research have pointed out the risks of a bitcoin correction to $38,000.
Earlier, TD Cowen expressed doubts about the imminent approval of spot Ethereum ETFs.