Net inflows into crypto investment products from October 21 to 27 totaled $326 million — the highest since July 2022. CoinShares reported this.
Analysts attributed the situation to growing optimism about the prospects for approval of the spot Bitcoin-ETF by the SEC.
The positive trend extended for a fifth week in a row. Since the start of October, investors have directed $484 million into crypto products.
Total assets under management reached $37.8 billion — the highest since May 2022.
90% of total inflows ($296.3 million) went into Bitcoin-connected products (last week — $55.3 million). Year-to-date, the figure reached $613 million.
“The weekly magnitude value turned out to be only 21 in the entire history of observations. This indicates persistent restraint among investors,” the analysts noted.
Investors in products that allow short exposure to Bitcoin allocated $15.4 million, up from $1.7 million a week earlier.
Solana-based instruments stood out again — $23.9 million versus $15.5 million a week earlier. Since the start of the year, investors have increased their positions by $98 million.
Persisting concerns about Ethereum led to a further outflow of funds from Ethereum-linked products by $6 million (in the previous reporting period also -$7.4 million).
Analysts at Matrixport forecast a rise in digital gold following the approval of a spot Bitcoin ETF to $42,000-56,000. CryptoQuant reported values of $50,000-73,000.