Share this article
Crypto Funds See Largest Inflows Since Mid-December
After two straight weeks of outflows, $193 million flowed into crypto funds in the seven days through March 25.
Updated May 11, 2023, 5:04 p.m. Published Mar 28, 2022, 6:20 p.m. 2 min read
Fresh investment inflows into crypto funds reached their highest amount in three months last week, with European funds leading the momentum.
The jump, noted in a report Monday by CoinShares, marked a reversal of the recent trend that included two straight weeks of outflows.
The reversal came as the price of bitcoin (BTC), the largest cryptocurrency by market cap, rose 14% last week, its biggest weekly gain since last April.
Digital asset investment products saw $193 million in inflows in the seven days through March 25, said CoinShares. Inflows were led by European funds’ $147 million in inflows, with $45 million in inflows coming from American funds.
Among fund providers, CoinShares Physical led with an inflow of $91 million, while Purpose Bitcoin ETF had $16 million in outflows.
Solana-focused funds saw their largest single week of inflows at $87 million, making that kind of fund the fifth-largest investment product among crypto funds and the largest altcoin fund not focused Ethereum.
Meanwhile, $97.8 million flowed into bitcoin -focused funds, $10.2 million went into Ethereum (ETH)-focused funds, and funds focusing on multi-assets had $5.5 million in outflows, which was unusual because multi-asset funds have been relatively popular; last week was only the second week this year when they had net outflows.
Cardano-focused funds saw inflows of $1.8 million, Polkadot-focused funds saw inflows of $1.2 million, and ATOM-focused funds saw inflows of $800,000.
Investment products focusing on blockchain-related stocks remained vibrant, accumulating $23 million of inflows last week, CoinShares said.
More For You
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
What to know:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
Top Stories
