During the period of November 11 to November 17, a total of $175.6 million was invested in cryptocurrency investment products, according to a report by CoinShares.
This brings the total amount invested in the past eight weeks to $1.32 billion. However, experts note that this pace of investment is significantly lower than in previous years, with $10.7 billion in 2021 and $6.6 billion in 2020.
Furthermore, there has been a doubling of trading volumes for crypto Exchange-Traded Products (ETPs) to $3 billion.
Of the total inflows, $154.7 million was invested in Bitcoin-based products, a decrease from the previous period’s $240 million.
This brings the eight-week total to 3.4% of AUM (assets under management), equivalent to $30.78 billion.
In addition, there has been a withdrawal of $8.5 million from structures that allow for shorting on Bitcoin, compared to $7 million the week prior.