Crypto Funds See Significant Inflows for Third Consecutive Week – Report (Cryptocurrency:BTC-USD)
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Digital investment products recorded $293 million in inflows last week, digital asset manager CoinShares reported on Monday, marking the third straight week of inflows of over $250 million.
Bitcoin (BTC-USD) funds accounted for $240 million of total inflows in the week ended November 10. The strong The performance comes as optimism continues to grow over approval for U.S. stock exchange funds to invest directly in the best-known cryptocurrency.
On a month-to-month basis alone, the first-ever cryptocurrency is up over 37%, representing a year-to-date increase of 121%.
Bitcoin exchange traded products (BTC-USD) volume accounted for 19.5% of total Bitcoin trading volume on exchanges, the report said. “This has been a rare occurrence and suggests ETP investors are participating in this rally to a much greater extent compared to 2020/21.”
On Monday, Bitcoin (BTC-USD) took a breather, dragging a number of crypto-related stocks lower.
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