In the latest weekly review of fund flows by CoinShares, digital asset investment products saw a significant increase in inflows, totaling $932 million. This represents a 716% increase from $130 million the previous week.
In the latest weekly review of funds flows carried out by CoinShares, digital asset investment products saw a significant increase in inflows, totaling $932 million. This represents a 716% increase from $130 million the previous week.
The notable rise followed a lower-than-expected CPI report on Wednesday, with the last three trading days of the week contributing 89% of the total inflows, indicating a renewed link between cryptocurrency prices and interest rate expectations.
Yuri MolchanBitcoin (BTC) was the largest recipient of these inflows, underscoring its position as the leading cryptocurrency in the market. Bitcoin ETFs saw inflows worth $942 million over the week.
The absence of significant interest in short positions in BTC suggests a positive outlook for investors. To date, Bitcoin investment products have accumulated $13.85 billion in inflows since the beginning of the year.
Cardano stands out
Among altcoins, several digital assets also recorded notable inflows. Solana, Chainlink, and Cardano (ADA) stood out with inflows of $4.9 million, $3.7 million, and $1.9 million, respectively.
Cardano’s inflows are particularly significant as it recorded no inflows the previous week, but recorded almost $2 million this week. This brings the total investment in Cardano ETP to $10 million for the year, reflecting increased investor interest in this asset.
Mushumir to the fullestOn the other hand, Ethereum faced challenges with outflows totaling $23 million. This bearish sentiment is tied to the uncertainties surrounding the SEC’s approval of a spot ETF, causing cautious investor behavior.
With significant capital inflows into Bitcoin and Cardano last week, it is safe to say the growing confidence among investors in these digital assets.
