Crypto funds collected $176 million in deposits

CoinShares presented its latest report on fundraising in crypto funds for the past week, from November 27 to December 1, 2023. Experts note a positive trend in capital inflows, which amounted to $176 million. The positive trend has continued for ten weeks in a row.

Between November 27 and December 1, 2023, capital inflows into investment products amounted to $176 million. Over the past 10 weeks, investment volume reached $1.76 billion, according to a report from CoinShares.

As experts noted, this is the highest figure since October 2021, when the first futures exchange-traded fund (ETF) was launched in the United States.

According to analysts, Bitcoin was the “major beneficiary”, receiving an inflow of $133 million. Outflows from products that allow shorting of Bitcoin amounted to $3.6 million. In addition, last week there was an inflow of capital into Ethereum of $31 million, according to a CoinShares report.

Notably, products related to the Solana blockchain received funding in the amount of $4.3 million. Positive dynamics were also observed for most other projects.

Among fund providers, Purpose Investments Inc. became the undisputed leader. - $49.8 million. Among the companies, two counterparties were in the red - CoinShares XBT and 21Shares AG.

At the regional level, the focus was on Canada and Germany. The influx of investments into these countries amounted to $79 million and $57 million, respectively. A minor outflow of funds was observed from Hong Kong for a total of $15 million.

“Total assets under management (AuM) grew 107% this year to $46.2 billion, but is still below the all-time high of $86.6 billion seen in 2021 ,” the report said.