The fast fall of former billionaire Sam Bankman-business Fried's empire, which caused the severe slump in the Cryptocurrency market, coincided with the greatest inflows in 14 weeks, at $42 Million .
With net inflows of $42 million in the seven days ending November 11, cryptocurrency funds had their greatest inflows in 14 weeks, according to a CoinShares report released on Monday.
The inflows happened at the same time that the cryptocurrency market had a significant decline, which was brought on by Sam Bankman-collapse Fried's of his corporate empire last week, which included the FTX exchange and his Alameda Research trading firm.
The most valuable cryptocurrency by market capitalization, Bitcoin (BTC), has dropped more than 20% in the last week and was trading at around $16,400 on Monday. In the previous day, the CoinDesk Market Index increased by 0.8%.
Despite the market slump, the inflows may show that investors are "differentiating between 'trusted' third parties and an inherently trustless system" and see "this price weakness as an opportunity," according to CoinShares.
The fact that so-called short-bitcoin investment instruments, which bet on a price decrease, had inflows of $12.6 million is an important addendum to the statistics.
Although sentiment is largely positive, some investors have been alarmed, according to the report.
The most money has been invested in bitcoin-related investment products last week—$19 million—the most since early August.
Regionally, the United States accounted for the majority of inflows ($29 million), followed by Brazil and Canada ($8 million and $4.3 million, respectively). According to the data, Switzerland was the outlier, with outflows of $4.6 million last week.
The largest inflows into multi-asset funds since June were $8.4 million, according to CoinShares.
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