Crypto Funds Draw Inflows for Second Straight Week
Some $180 million flowed into digital asset funds in the week through April 1, CoinShares reported on Monday.
Cryptocurrency funds attracted inflows for the second straight week, with nearly all of the new investment going into European funds.
Digital-asset funds saw $180 million of net inflows in the seven days through April 1, according to a CoinShares report published Monday. The amount represented a decline from a revised $244 million of inflows reported for the prior week, CoinShares said.
About 99% of the inflows went into European funds, with the rest into Americas-based funds.
Broken down by fund providers, ETC Group led with an inflow of $87 million.
Purpose Bitcoin ETF suffered an outflow of $43 million, widening from the $16 million of redemptions the prior week. This is the fourth week Purpose has experienced outflows since a $130 million inflow in the week through March 4.
Short-bitcoin investment products, which generate return based on the reverse price action of bitcoin (BTC), saw an inflow of $9 million, denoting a sentiment against the general trend.
Bitcoin-focused funds drew $144 million, and $23 million went into funds focused on Ethereum (ETH). Funds focused on Solana (SOL) saw inflows of $8.2 million, down from of $87 million the week before.
Funds focused on Cardano (ADA) took in $1.8 million, the same as the week before.
CoinShares revised the prior week's inflows to $244 million, from a previously reported $193 million.
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