Ethereum

Bitcoin

Grayscale Bitcoin Trust

<div class="cryptonews">
 <p class="is-style-lead">Inflows in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency investment products from October 7 to October 13 reached $15.2 million, compared to $78.4 million a week earlier.&nbsp;</p>
 <p>According to CoinShares analysts,&nbsp;the amount was 27% below the 2023 average. Experts explained that the data provided does not include positive news for digital gold regarding the SEC’s refusal to appeal the court’s decision in the case of converting the Grayscale Bitcoin Trust into an ETF. Such developments have increased the chances of the product launch, according to market observers.</p>
 <p>Bitcoin (BTC) <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> recorded an inflow of $16.4 million compared to $42.7 million in the previous reporting period. Investors invested $1.7 million in products that allow opening shorts on the first <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency (a week ago it was $1.2 million).</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14204794">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/10/16/80dbe3dda5a1dd2b2030c65f93788bb4.webp.webp">
   <img decoding="async" width="1024" height="943" src="https://cdn.thebittimes.com/images/2023/10/16/80dbe3dda5a1dd2b2030c65f93788bb4.webp" alt="Inflow into crypto funds continues for third consecutive week - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Source: CoinShares
  </figcaption>
 </figure>
 <p>Meanwhile, investors withdrew $7.4 million from Ethereum (ETH) <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a>. The previous week, against the backdrop of the start of trading in Ethereum-ETF futures, there was an influx of $10.2 million. Experts admitted that the change in dynamics is due to “a reflection of current problems with the development of the protocol.”</p>
 <p>Solana-based products raised $3.7 million after the highest since March 2022 of $24 million in the previous reporting period. Inflows to XRP <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> continued for the 25th week in a row ($0.42 million).</p>
 <p>From products based on Tezos, Litecoin, and Chainlink, investors withdrew $0.25 million, $0.28 million, and $0.31 million, respectively.</p>
 <p>A week earlier, the crypto market attracted $78 million, which was the highest since July 2023. Most of the investment was in Bitcoin. At that time, crypto market participants invested a total of $78 million. This was the highest result since July of this year.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Crypto operator CoinShares launches U.S. hedge fund division
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/inflow-into-crypto-funds-continues-for-third-consecutive-week-tbt66575.html">https://thebittimes.com/inflow-into-crypto-funds-continues-for-third-consecutive-week-tbt66575.html</a></p>

Inflow into crypto funds continues for third consecutive week

TheBitTimes

Other articles published on Oct 16, 2023

Will Polkadot (DOT) Respond to the Downward Pressure? Are the Recovery Efforts Paying Off?

Bitcoin Price Breaks Above $27,000, Key Levels to Watch

LUNA Price Rebounds: Will Bulls Bounce Back to $1 in 2023?

Double blessing for Davido and Chioma + other social media highlights

Potential range expansion is indicated by Bitcoin; will SOL, LDO, ICP, and VET follow?

Fake News Briefly Drives Bitcoin Prices Up on Erroneous BlackRock ETF Approval Claims

Join our free newsletter for daily crypto updates!