CoinShares: “almost $ 1.5 billion were deposited in cryptocurrency funds in the previous week”

Analysts at CoinShares calculated that the inflow of funds into cryptocurrency investment products rose to a record $ 1.465 billion in the week from October 18 to October 22.

This was the result of the launch of an ETF on Bitcoin futures from ProShares in the United States. In addition, a similar fund was launched by the Valkyrie company. Therefore, the lion’s share of investments was invested in Bitcoin products – $ 1.45 billion. At the same time, ETH funds showed a slight decline.

CoinShares analysts remind that until last week the indicator of one of the weeks of February was considered a record, when cryptocurrency trusts raised $ 640 million.It is also interesting that the volume of investments for the year now amounts to about $ 8 billion, which already exceeds the figure for 2020 ($ 6.7 billion).

Although most of the investments ($ 1.236 billion) were invested in ETFs from ProShares, Bitcoin products from other companies also attracted investor interest. Thus, ETC Group products attracted $ 111.3 million, and 21Shares funds – $ 66.5 million. But from the products of CoinShares XBT and 3iQ, an outflow was recorded.

For altcoins, funds for ether and multicurrency trusts showed negative results, and the outflow from funds to ETH has been observed for the third week in a row. The rest of the products showed a positive result. For example, SOL coin trusts raised $ 8.1 million, and ADA products raised $ 5.3 million.

At the moment, the volume of funds of institutional investors in cryptocurrency products is $ 76.65 billion. Just a week earlier, the figure was $ 72.3 billion. In addition to the record inflow of funds to such funds, the growth of the cryptocurrency market also influenced the indicator.