Home » Amid FTX collapse, crypto funds see largest inflows in 14 weeks

Amid FTX collapse, crypto funds see largest inflows in 14 weeks

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Inflows into cryptocurrency investment products surged last week as institutional investors bought dips amid a market-wide collapse sparked by the bankruptcies of FTX and Alameda Research.

According to CoinShares data, digital asset investment products recorded a total inflow of $42 million in the week ending Nov. 13, the biggest increase in 14 weeks. Bitcoin (Bitcoin) investment products recorded the largest inflows at $19 million, followed by multi-asset and Ether (ethereum) funding of $8.6 million and $5.9 million, respectively.

Investors were also betting on further deterioration in market conditions, with bitcoin shorts registering weekly inflows of $4.8 million.

All major regions recorded net inflows, led by the United States ($29 million), Brazil ($8 million) and Canada ($4.3 million).

the investor buy crypto investment products, their prospects for blockchain stocks deteriorated. According to data from CoinShares, blockchain stocks are recording $32 million in weekly outflows, the largest since May. Meanwhile, the broader stock market posted its best weekly gain since March, while the technology-heavy Nasdaq Composite rose 8.1% on weaker-than-expected inflation.

Related: Crypto Biz: The Day of Crypto Computation Has Arrived

Last week, the cryptocurrency market faced renewed sell-side pressure. Sam Bankman-Fried’s FTX Exchange He filed for bankruptcy after his assets were seized. The bank run was caused by the sudden liquidation of his FTX tokens by Binance (FTXBinance CEO Changpeng Zhao expressed interest in buying a collapsing derivatives exchange, but pulled out less than 24 hours later due to a clear hole in FTX’s finances. It became clear that FTX Has Nearly $8 Billion In Debt.

Bitcoin is currently hovering just above $16,500, according to Cointelegraph’s BTC Price Index, and the cryptocurrency’s price appears to be stabilizing after last week’s crash. However, it could take months or longer for market sentiment to recover.