Last week cryptocurrency products saw $644 inflows, after losing assets for five weeks in a row.
James Butterfill, Head of Research at CoinShares, said that the Bitcoin ETFs were the main beneficiaries, with Solana and Polygon investment products following. Reportage. CoinShares reported that the assets in crypto products under management have increased 6.3% since March 10th, when they were at their lowest.
“Every day last week recorded inflows… signaling a decisive shift in sentiment toward the asset class,” Butterfill said in the report.
As geopolitical uncertainty and economic concerns drive investors, cryptocurrency funds are experiencing massive outflows. Avoid risky assets. In the U.S., spot Bitcoin ETFs logged outflows totaling $5.4 billion over a period of five weeks ending on March 21—the longest streak of weekly outflows for the funds since they clinched approval to launch in January 2024.
Investor sentiment improved last week after Federal Reserve chairman Jerome Powell calmed the markets following the central bank’s decision to keep interest rates at their current level. Investors' cautious optimism has fueled inflows to digital assets investment products.
Bitcoin ETFs attracted $724 million last week, largely driving the recovery, according to CoinShares' report. Solana investment products attracted $6.4 million, while Polygon, Chainlink, and Chainlink had marginal inflows.
Ethereum, on the other hand, saw the largest loss of investment last week. It logged $86 millions in outflows. Altcoins including Sui Polkadot Tron and Algorand experienced the same outflows.
Most of the money came from Americans, who invested $632 millions in digital asset investments. Investors in Switzerland and Germany also contributed to the influx of funds, contributing $15.9 millions, $13.9million and $1. Investors in Switzerland, Germany and Hong Kong also poured funds into cryptocurrencies adding $15.9 millions, $13.9 million and $1.2 million respectively.
James Rubin is the editor