According to CoinShares reports cryptocurrency The amount of fresh investment flowing into its funds rose to the highest level in the last three months last week. European funds lead the way in the bullish momentum.
Cryptocurrency Funds Experience Biggest Rise Since Mid-December
The rise, announced by CoinShares on Monday, comes after two weeks of a negative trend dominated by outflows from funds.
The world’s largest cryptocurrency bitcoin also reached the $48,000 limit, making its biggest weekly rise since last April.
According to data from CoinShares, digital asset investment products experienced $193 million in capital inflows during the week ending March 25. Of the said investment inflows, 147 million dollars came from European funds and 45 million dollars from American funds.
Among the funders, CoinShares Physical took the lead with $91 million, while the Purpose Bitcoin ETF had an outflow of $16 million.
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wither focused crypto funds, on the other hand, experienced their biggest rise ever in a single week. With this rise, the Solana fund has become the fifth largest among crypto money investment products and Ethereum not focused altcoin among the funds, it rose to the first place.
However, $97.8 million flowed into Bitcoin-focused funds, while $10.2 million was added to Ethereum-focused funds. There was an outflow of $ 5.5 million in funds focusing on multiple assets. This development in multi-asset funds was perceived as a surprise because these funds had become popular recently. This year was one of only two weeks in which these funds had net outflows.
Cardano-focused funds experienced a net inflow of $1.8 million polkadot focused funds $1.2 million, ATOM focused funds, on the other hand, saw an inflow of $ 800,000.
*Not investment advice.