According to CoinShares’ latest fund flow report, XRP and bitcoin cryptocurrency were the only assets whose products saw a positive flow. Bitcoin-focused investment products received $13.4 million and XRP $500,000 in funding.
Crypto Focused Investment Products Close Week With $6.1 Million Net Inflows
Investment products focused on other cryptocurrencies either performed extremely poorly or recorded large exits. Overall, the crypto-focused investment products market closed the week with a positive entry of $6.1 million.
At the same time, the price action of both XRP and Bitcoin remained weak despite continued activity on targeted products. Yes, both cryptocurrencies traded on the positive side, but they looked dull considering the old bull markets.
In addition, the price performance of many cryptoassets has improved over the past week.
Bitcoin saw $13 million in inflows, also accounting for 70% of volumes and a 100% increase from the previous week and was the main determinant of the increase in trading.
Short-bitcoin, which performed against the BTC price, had a total outflow of $ 2.4 million in the second week, and the total outflows have reached $ 20 million since mid-September.
Regionally, the US and Germany were the only countries to see positive inflows of $13 million and $3.3 million, respectively. In Brazil, Canada, Sweden and Switzerland, there was a total outflow of 10 million dollars.
On the Ethereum side, there was a net outflow for the fourth time in a row. With the $2.1 million outflow of funds this week, a total of $14 million in funding has been outflow since the Merge update.
*Not investment advice.
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