According to CoinShares’ “Weekly Digital Asset Fund Flows Report”, there were significant developments in crypto assets last week. However, most of these developments are associated with investments in Bitcoin funds. The report shows that 98% of the investment went to Bitcoin funds, which once again emphasizes Bitcoin’s dominance in the cryptocurrency market and investors’ confidence in this area. Details are in our news…
Crypto Preference of Institutional Investors
The cryptocurrency world has experienced extraordinary growth recently, and digital asset investments have begun to attract more and more attention. Especially Bitcoin (BTC) is the pioneer of this trend.
According to CoinShares’ recent report, digital asset investment products witnessed a total weekly inflow of $1.1 billion. This shows that the cryptocurrency market is on the rise and investors are increasingly interested in this area. Especially the inflow of 2.7 billion dollars recorded since the beginning of the year shows how strong this trend is.
In fact, the basis of this interest is the Spot Bitcoin ETF, which was launched on January 11. Since their launch on January 11, these ETFs have recorded total inflows of $2.8 billion. This high value indicates a strong investor appetite for Bitcoin in the traditional financial infrastructure.
Altcoin Interest
Besides Bitcoin, there is also an upward trend in other cryptocurrencies such as Ethereum (ETH) and Cardano (ADA). While Ethereum attracts attention with an entry of $16 million, Cardano also attracts the attention of investors with an entry of $6 million. This shows that confidence in altcoins is increasing and there is a demand for these assets from investors to diversify their portfolios.
Additionally, small inflows of $0.5 million were observed in Avalanche (AVAX) and $0.4 million in Polygon (MATIC). Additionally, Tron (TRX) witnessed an inflow of $0.4 million. In contrast, small outflows of $0.5 million and $0.4 million were recorded for Uniswap and Short-Bitcoin respectively.
You can follow the current price movement here.
