Cryptocurrency investment products are seeing a surge in institutional interest after their recent recovery. Last week there was an inflow of $160 million, the highest level since July 2022. Ethereum (ETH) is the only altcoin to see an exit and these 3 altcoins manage to stay on the green side…
Weekly fund flow of cryptocurrency products turns positive again
According to the current weekly fund flow report from Coinshares, the flow of funds to crypto investment products has reached the July 2022 levels again with $160 million. A remarkable comeback after 6 weeks of debut, totaling $408 million.
Coinshares analysts commented on this momentum, “While the entries came relatively late compared to the broader crypto market, we believe it is due to growing fears among investors for stability in the traditional financial sector.”
Bitcoin was the primary beneficiary seeing $128 million in inflows and was recently cited by some customers as a safe haven for the first time. While not everyone shares this view, as short-bitcoin also saw $31 million in inflows, it continued to be the investment product with the most inflows so far this year. However, it was not the best performing product in terms of price.
On the altcoin side, a large group of altcoins is providing positive inflows of funds, while Ethereum (ETH) is seeing institutional disinterest on concerns that it will see selling pressure.
Ethereum (ETH) is the only altcoin to lose funds
Ethereum hit $5.2 million for the third week in a row last week. This could be due to investors’ concerns around the Shanghai update (expected April 12). Meanwhile, a wide set of altcoins saw entry, the most notable being Solana, Polygon and XRP with $4.8 million, $1.9 million and $1.2 million respectively. The general outlook for the week of March 20 is as follows:
- Bitcoin (BTC): $+128 million
- Solana (LEFT): +$4.8 million
- Polygon (MATIC): + $1.9 million
- Ripple (XRP): + $1.2 million
- Litecoin (LTC) remains stable
- Ethereum (ETH): -5.2 million dollars
Fund flow by region
The inflows came from many countries, indicating a broad improvement in sentiment in the asset class. The most notable of these came from the United States, Germany, and Canada, with $69 million, $58 million, and $26 million, respectively.
cryptocoin.com You can access the fund flow reports of the previous weeks, which we conveyed as During the week of March 20, crypto investment products experienced a significant return after 6 weeks of exit. Meanwhile, Bitcoin and Ethereum continue their momentum since March 14 below critical resistances.
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