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Crypto funds received $176 million in a week

According to CoinShares, institutional investors contributed $176 million in inflows into cryptocurrency funds over the past week. This is already the 10th week with a positive balance.

Over these 10 weeks, investors increased the total capitalization of cryptocurrency funds by $1.76 billion (about 4%). This is the largest influx of funds since October 2021, but so far the capitalization of cryptocurrency products is half the maximum levels. Currently, various companies manage $46.2 billion, and in 2021 the figure reached $86.6 billion.

Interestingly, institutions from Canada showed the greatest interest in cryptocurrency funds – they invested $79 million more than they withdrew. Companies from Germany (+$56.9 million) and the USA (+$53.5 million) also invested funds. Another $2.5 million was invested by the Brazilians.

Bitcoin products remain the leader in the influx of funds – the inflow amounted to $132.8 million. Another $30.8 million was invested in trusts for ether. Funds for all assets reported a positive balance, with the exception of Litecoin – investors in these products withdrew $200,000. Interestingly, an influx of funds was also recorded in funds for the fall of BTC – investors withdrew funds for 3 weeks, and last week they invested $3.6 million.

Note that according to Bloomberg analyst James Seyffart, the SEC may approve the launch of spot Bitcoin ETFs as early as early January.

Source: Cryptocurrency

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