CoinShares Weekly Report: Crypto Investment Products See First Inflows in Five Weeks, Market Sentiment Improves
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Last week, digital asset investment products saw inflows totaling $63 million for the first time in 5 weeks. For the first time in 9 weeks, all digital assets saw inflows, suggesting that investor sentiment has improved. Bitcoin had the largest inflow of funds, totaling $39 million, which slightly boosted the data of the previous weeks. It is worth noting that Bitcoin has now shown net inflows for two consecutive weeks. After three weeks of outflows, Ethereum saw a total inflow of funds of $18 million this week. XRP, Polkadot, and Cardano all received inflows of $1.2 million, $2.1 million, and $700,000, respectively. While there was still inflow into other digital asset investment products, totaling $600,000, this was much smaller than in previous weeks, indicating that investors currently have little interest in other cryptocurrencies. Trading volume in Bitcoin investment products last week was the lowest since November 2020 and was down 38% from average volume in 2021. |
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