Crypto funds saw their largest inflows for 14 weeks, which coincided with the crypto market's sharp downturn triggered by the collapse of Sam Bankman-Fried’s business empire last week. _jocelynyang reports
Despite the market downturn, the inflows could indicate that investors see “this price weakness as an opportunity” and are “differentiating between ‘trusted’ third parties and an inherently trustless system,” according to CoinShares.
A key footnote to the data is that so-called short-bitcoin investment products – those betting on a price decline – saw $12.6 million in inflows.Switzerland the outlier Investment products designed to bet on bitcoin gains saw $19 million in inflows last week, the largest since early August. Regionally, most inflows came from the U.S., at $29 million, followed by Brazil and Canada with $8 million and $4.3 million in inflows, respectively. Switzerland was the outlier, seeing $4.6 million in outflows last week, the report said.Meanwhile, blockchain-related equities saw their largest weekly outflow of $32 million since May, implying that “the more conservative investors in the asset class flew to safety.
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