Crypto Funds See Inflows, Despite Slower Overall Volumes

Solana, which suffered a network outage that lasted nearly 20 hours last week, saw inflows of $4.8 million.

AccessTimeIconSep 20, 2021 at 5:42 p.m. UTC
Updated May 11, 2023 at 3:48 p.m. UTC
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

Digital asset investment products saw inflows totaling $42 million last week, signaling another week of improved sentiment among investors. This marks the fifth consecutive week of inflows.

“This improved sentiment could be a seasonal phenomenon, but we are not seeing a commensurate rise in volumes in investment products,” said a CoinShares report published Monday. “This suggests that some investors are taking advantage of recent price weaknesses and the continued rise in alt-coin popularity,” added the report.

Solana, which suffered a network outage that lasted nearly 20 hours last week, saw inflows of $4.8 million. Ethereum and multi-asset investment products saw inflows of $6.6 million and $3.7 million, respectively.

“This suggests investors were happy to shrug off the attack, seeing it as teething problems rather than something more inherent with the network,” said the report.

Screenshot 2021-09-20 at 17.47.28.png

Despite inflows of $15 million over the last week, the world’s largest cryptocurrency has suffered the most from negative investor sentiment, with inflows in only three of the last 16 weeks.

Over the course of this year, bitcoin’s total market share of assets under management (AUM) has fallen from 81% in January to 67% on Monday.

Bitcoin is down 8% on the day, and is decisively below its 50-day moving average. At press time, bitcoin was trading at $43,784.

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 offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.


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.