See More

Third Straight Week of Crypto Inflows Totaled $85 Million

2 mins
Updated by Ryan James
Join our Trading Community on Telegram

In Brief

  • A third consecutive week of inflows into digital asset investment products amounted to $85 million last week.
  • The three straight weeks of inflows, which has now accumulated to $133 million, suggests continued positive sentiment among investors.
  • Bitcoin-based products saw the largest share of inflows, with $71 million last week, which was the most amount seen since early December.
  • promo

A third consecutive week of inflows into digital asset investment products amounted to $85 million last week.

The three straight weeks of inflows, which has now accumulated to $133 million, suggests continued positive sentiment among investors, according to the latest CoinShares report.

With January 24th as the low point in the most recent run of negative sentiment, total assets under management (AuM) reached $52.4 billion last week. While the report acknowledged inflows into Europe ($10.3 million), it emphasized that the majority were in the Americas, especially Brazil and Canada (US$75m).

Coin flows

Naturally, Bitcoin-based products saw the largest share of inflows, with $71 million last week. This was the most amount seen since early December, and contributed significantly to the past three weeks’ run of $108 million. However, Bitcoin investment product volumes remained low last week at $1.8 billion, compared to $3.4 billion the week prior. 

On the other hand, investment products flows for Ethereum continued its negative streak last week, with outflows of $8.5 million, suggesting that investors remain bearish. The nine consecutive weeks of outflows now totals $280 million, representing 2.2% of AuM. However, several altcoins had reputable inflows, such as Solana, Polkadot and Cardano with $2.4 million, $2.2 million, and $1.1 million respectively. Notably, Terra saw its first significant inflows which amounted to $1.4 million last week, a whopping 26% of AuM.

Crypto investment products began the year in the midst of several weeks of outflows, representing the greater general bleeding of the crypto markets. When the tide turned with $14 million in inflows two weeks ago, it broke a streak of outflows that amounted to $532 million. The inflows then continued last week, however weakly, with another $19 million. Despite being so small, the report said that “it continues to suggest investors are beginning to cautiously add to positions at these depressed price levels.”

What do you think about this subject? Write to us and tell us!

Top crypto platforms in the US | April 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

photo_Nick.jpg
Nicholas Pongratz
Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage.
READ FULL BIO
Sponsored
Sponsored