CoinShares reports that digital asset investments products saw net inflows of $1.4 Billion last week. This is the largest weekly amount since January.
You can read more about it here:
- Inflows into crypto products reached $1.4 billion for the first time since January.
- Bitcoin led the way with $1.116 Billion, and Ethereum had $328 M in global weekly inflows.
- The total assets managed reached $155 billion, with the majority of funds being US-based.
The latest reading has also seen a positive flow for three straight weeks. CoinShares said During the period, total assets managed rose from $155 Billion to $215 billion.
The report stated that weekly flows represented 0.91% total assets managed, the highest level of intensity observed so far in this year.
Bitcoin investments products received the majority of the money. CoinShares said that Bitcoin funds received $1.116 Billion in new money last week. The total year-todate amount of inflows is now $3.1 billion.
Bitcoin’s rise above $76,000 in the last week has helped to support sentiment. CoinShares attributes the higher flows to improved risk appetite. ceasefire extension talks Iran and the US continued to engage in a dialogue. CPI March data was also released. appeared The impact of the recent market volatility on investors’ positioning is limited.
Ethereum Investment Products also saw a $328 million increase in weekly inflows. This is their highest result since the beginning of January. Ethereum has now seen a total of $197 million in inflows for its year to date.
During the same period, only $1.4 million was invested in short Bitcoin. The market still saw some demand for hedging, although the volume was limited in comparison to the flow into digital assets.
Demand for regional flows is broad with one exception
Most of the inflows were from the United States. CoinShares reported that US-based funds brought in $1.5billion during the past week. This makes the US the leading global fund.
Germany, too, saw positive flow with an inflow of $28 million. Switzerland went in the other direction and posted $138 in withdrawals. CoinShares stated that it was the biggest withdrawal from Switzerland in November. This stood out to the wider risk-on trends of digital asset markets.
Bitcoin and Ethereum were not the only assets to show a decline in performance. Report said XRP Solana and other products saw outflows in the amount of $2.3 and $56 millions, respectively. The overall market situation remained positive, as the total weekly inflows hit their highest levels in several months.
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Source: crypto.news
