Bitcoin
$66,909.56+1.03%
Ethereum
$3,236.89+1.35%
Binance Coin
$607.98+1.75%
Solana
$157.60+2.06%
XRP
$0.54789305+2.32%
Dogecoin
$0.16158196+0.74%
Toncoin
$5.72-6.41%
Cardano
$0.51205706-0.32%
Shiba Inu
$0.00002743+1.42%
Avalanche
$39.18+0.34%
Wrapped Bitcoin
$67,034.95+1.09%
Polkadot
$7.47+0.59%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
21
HR
37
MIN
10
SEC
Markets

Inflows to Crypto Funds Slow as Apparent Profit-Taking Offsets Fresh Money

Digital asset fund inflows slowed last week, although demand for Ethereum products rose, according to CoinShares.

By Damanick Dantes
AccessTimeIconMay 10, 2021 at 4:44 p.m. UTC
Updated Mar 6, 2023 at 3:15 p.m. UTC
Digital asset fund flows
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Flows into digital asset funds slowed by about $116 million to $373 million last week as some investors apparently cashed out, according to a report Monday by CoinShares.

Overall, positive inflows were noted during the week ending May 7, although “some providers continue to see outflows in what we believe is continued profit taking behavior,” wrote CoinShares, a digital asset investment firm.

  • Bitcoin (BTC) netted $290 million of inflows on the week, according to the report.
  • Meanwhile, investor demand for investment products focused on Ethereum continued to rise, with inflows of $60 million last week. Total assets under management reached a new record of $16.5 billion.
  • “Bitcoin achieved this level of assets under management only in December 2020,” according to CoinShares.
  • “New investment product entrants, cardano (ADA) and litecoin (LTC), got off to a good start with inflows of $6.6 million and $3.6 million respectively.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.