Cryptocurrency Fund Flows Decline as Bitcoin Price Trades Sideways

Cryptocurrency fund inflows declined by roughly 58% to $99 million last week. Lower investor appetite for digital asset funds could reflect uncertainty over bitcoin’s price, which recently has traded in a range between $53,000 and $61,000.

“Since the February price highs and heightened volatility, we have seen a steady decline in appetite amongst investors,” according to a report by CoinShares, a digital asset management firm.

“We have also seen a decline in bitcoin investment product trading volumes to $713 million per day last week, versus $1.1 billion per day for 2021,” wrote CoinShares.
Fund flow data also shows a regional divide. Inflows are slowing in the U.S., while Europe and Canada have sustained investor appetite.
Bitcoin (BTC) products received a majority of inflows last week, while ethereum (ETH) and polkadot (DOT) lagged behind.

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Damanick Dantes

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.