The influx of funds into cryptocurrency investment products between October 28 and November 3 totaled $261 million, following a record-high of $326 million in the previous week since July 2022, according to calculations by CoinShares.
This positive trend has continued for six consecutive weeks, with investors allocating a total of $767 million during this period.
Comparatively, the total inflows since the beginning of the year were $847 million, and $736 million for the entire 2022. The current pace of receipts is the highest it has been since the end of the bull market in December 2021.
Analysts attribute the increase in inflows to expectations for the approval of a spot ETF based on digital gold, as well as macroeconomic data indicating concerns over the sustainability of the Federal Reserve’s aggressive monetary policy. Out of the total inflows, 87.6% ($228.9 million) came from Bitcoin-related products, a decrease from the previous week’s $296.3 million.
Since the beginning of the year, investments in Bitcoin products have reached $842 million.
Clients of management companies also invested $4.5 million into structures that allow opening short positions on Bitcoin, a decrease from $15.4 million the week before.