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Cryptocurrency Fund Flows Now at Lowest Since October 2020
No wonder cryptocurrency markets were so lackluster last week: There just wasn't much appetite from investors to put new money into funds.
Updated Mar 6, 2023, 3:42 p.m. Published Mar 29, 2021, 8:07 p.m.
Flows into digital asset investment products declined by roughly $79 million to $21 million during the seven-day period through March 26, the lowest since October, according to a new report by CoinShares, a digital asset investment firm.
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Slowing investor appetite for cryptocurrency funds reflects sideways price action in bitcoin (BTC). The cryptocurrency has traded between $50,000 and $60,000 over the past week.
"Investor appetite for digital assets has waned in recent weeks as volatility remains high and the price trades sideways," CoinShares wrote in the report.
- “We have recently witnessed a significant reduction in inflows, and in some cases outflows, for the larger and longer-established pre-2016 investment products,” according to the report. "We believe this is due to investors sitting on multi-year gains taking profits."
- Investment flows in the U.S. are slowing, while Europe and Canada continue to hold up.
- Trading volumes in digital-asset investment products declined to $788 million per day last week, versus an average $900 million per day so far in 2021.
- Bitcoin received the largest inflows, according to the report, "but Ethereum on a market capitalization basis (as we've seen in previous weeks) remains more popular with inflows of $5 million."
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- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
What to know:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
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