Investors Pump Money Into Crypto Funds Amid Pickup in Market Sentiment

Bitcoin dominated this week's inflows, accounting for almost all of the $117 million coming in.

AccessTimeIconJan 30, 2023 at 3:04 p.m. UTC
Updated Jan 30, 2023 at 4:05 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 $117 million in inflows last week, the largest amount in six months, according to data from CoinShares.

Investors pumped money mainly into bitcoin (BTC)-related funds, which accounted for $116 million worth of the inflows. This comes as the world’s largest cryptocurrency has been on an upward trajectory since the start of the year, gaining 40%.

As market sentiment has improved, digital investment product volume has increased, reaching $1.3 billion traded last week, up 17% compared with the year-to-date average.

Short-bitcoin products saw inflows of $4.4 million, which suggests opinion does remain polarized, according to CoinShares.

Multi-asset investment products saw outflows for the ninth consecutive week, with outflows of $6.4 million. “This suggests investors are preferring select investments. This was evident in alts such as Solana, Cardano and Polygon while Bitcoin Cash, Stellar and Uniswap all saw minor outflows,” the report read.

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 an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

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.