Share this article
Crypto Fund Inflows Slow to $88M as Market Retreats
Bitcoin’s price is down 26% in the past 30 days, suggesting investors continue to see the price weakness as a buying opportunity, albeit at a slower pace.
Updated May 11, 2023, 5:06 p.m. Published Dec 13, 2021, 6:50 p.m.
Make us preferred on Google
Digital asset investment products saw inflows drop 52% last week to $88 million, as crypto markets saw a downturn.
The inflows into crypto funds during the week ended Dec. 10 compared with $184 million the prior week, according to a report Monday by CoinShares.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Funds focused on bitcoin, the largest cryptocurrency, accounted for the bulk of the week’s inflows, at $52 million. The prior week, bitcoin-focused funds saw $145 million of inflows.
Bitcoin is down 26% in the past 30 days, suggesting investors continue to see the price weakness as a buying opportunity – but at a slower pace.
For the first time in six weeks, funds focused on ethereum, the second largest cryptocurrency by market capitalization, witnessed outflows. Ethereum fund outflows totaled $17 million last week.
This week’s inflows consisted of very mixed flows across assets, the report from CoinShares noted.
Solana , the blockchain-based smart contracts platform, saw inflows of $17 million. SOL is down 35% on the month after reaching an all-time high in November.
, saw $15 million worth of inflows. Crypto funds focused on the multi-purpose blockchain platform now have an asset-management total, at $92 million, above that of Cardano’s $68 million, according to the report.
