Crypto funds record inflows for 10th consecutive week - report
Dec. 04, 2023 3:33 PM ET
By: Max Gottlich, SA News Editor
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Digital asset investment funds logged inflows of $176M last week, CoinShares reported Monday, marking the 10th straight week of inflows totaling $1.76B.
"This run of inflows is now the largest since October 2021, which saw the launch of the futures-based ETF in the US," the report said.
Still, the magnitude of the inflows for the week ended Dec. 1 was notably smaller than the $346M of inflows in the previous week.
Bitcoin ( BTC-USD), of course, made up some 75% of last week's inflows. But short-bitcoin products, following a three-week run of outflows, experienced inflows of $3.6M, signaling sentiment isn't completely bullish.
The price of the highest-profile crypto ( BTC-USD) climbed 4.3% for the week, only to extend the rally on Monday.
Ethereum ( ETH-USD), the price of which gained 5.7% last week, also saw inflows of $31M, CoinShares said, bringing its five-week run to $134M. |
