Crypto Funds See Largest Inflows Since Mid-December

After two straight weeks of outflows, $193 million flowed into crypto funds in the seven days through March 25.

AccessTimeIconMar 28, 2022 at 6:20 p.m. UTC

Angelique is a market contributor at CoinDesk.

Fresh investment inflows into crypto funds reached their highest amount in three months last week, with European funds leading the momentum.

The jump, noted in a report Monday by CoinShares, marked a reversal of the recent trend that included two straight weeks of outflows.

The reversal came as the price of bitcoin (BTC), the largest cryptocurrency by market cap, rose 14% last week, its biggest weekly gain since last April.

Digital asset investment products saw $193 million in inflows in the seven days through March 25, said CoinShares. Inflows were led by European funds’ $147 million in inflows, with $45 million in inflows coming from American funds.

Among fund providers, CoinShares Physical led with an inflow of $91 million, while Purpose Bitcoin ETF had $16 million in outflows.

Solana-focused funds saw their largest single week of inflows at $87 million, making that kind of fund the fifth-largest investment product among crypto funds and the largest altcoin fund not focused Ethereum.

Meanwhile, $97.8 million flowed into bitcoin (BTC)-focused funds, $10.2 million went into Ethereum (ETH)-focused funds, and funds focusing on multi-assets had $5.5 million in outflows, which was unusual because multi-asset funds have been relatively popular; last week was only the second week this year when they had net outflows.

Cardano-focused funds saw inflows of $1.8 million, Polkadot-focused funds saw inflows of $1.2 million, and ATOM-focused funds saw inflows of $800,000.

Investment products focusing on blockchain-related stocks remained vibrant, accumulating $23 million of inflows last week, CoinShares said.

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.

CoinDesk - Unknown

Angelique is a market contributor at CoinDesk.

CoinDesk - Unknown

Angelique is a market contributor at CoinDesk.

Trending

1
CoinDesk - Unknown
Singapore Central Bank Reprimands Three Arrows Capital for Providing False Information

The fund also exceeded the threshold of assets it could manage in Singapore, according to the central bank.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: How Traders Are Shorting Tether Stablecoins; Bitcoin Falls but Holds Above $20K

Hedge funds are increasingly betting against USDT in anticipation of it losing value amid concerns about the coin’s reserve backing and systemic risks; ether drops.

CoinDesk - Unknown
3
CoinDesk - Unknown
Hurry Up With Crypto ID Checks, FATF Tells Countries

After the potentially privacy-busting ‘travel rule’ for crypto transfers, global standard-setters at the Financial Action Task Force have their eyes on Defi, NFTs and unhosted wallets.

CoinDesk - Unknown
4
CoinDesk - Unknown
Messari Research: DCG’s Barry Silbert Wins From SEC ETF Stalemate, but Investors Lose

Messari’s Ryan Selkis says Grayscale's product is broken, but SEC leadership won't let them fix it.

CoinDesk - Unknown