Crypto Investment Funds See Largest Influx Since July 2022 on Optimism for Bitcoin ETF Approval
According to CoinShares, crypto investment funds received $326 million in net inflows last week, the largest amount since July 2022. The reason behind this influx is the increase in prices, which is believed to be due to growing optimism that the SEC will approve the first spot bitcoin ETF. While this is a significant gain, CoinShares notes that it is only the 21st largest weekly gain in the past three years, indicating that investors may still be cautious. Bitcoin funds accounted for 90% of all inflows, while funds holding ether continued to experience outflows.
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