Crypto Funds Draw Inflows for Second Straight Week

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.