Crypto asset investment products witnessed $136 million of inflows last week, bringing total inflows over the past three weeks to $470 million.
Bitcoin remains the favored asset among investors, with $133 million in inflows, while blockchain equities experienced the largest inflows in a year at $15 million.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Weekly inflows into digital asset investment products were strong for the third consecutive week, with $136 million entering the market.
Total inflows into institutional crypto investment products for the past three weeks have reached $470 million, fully offsetting the previous nine weeks of outflows, and resulting in a net positive inflow of $231 million for the year, according to CoinShares’ latestThe turnaround in fortunes coincides with the renewed race for a spot bitcoin ETF, kicked off by BlackRock'sHowever, trading volumes slowed to $1 billion for the last week, compared to an average of $2.
Bitcoin remains the preferred choice among investors, attracting 98% of inflows last week. Ethereum witnessed inflows of $2.9 million over the same period and remains in a negative net flows position for the year, with outflows of $63 million. Altcoins including Solana, XRP, Polygon, Litecoin and Aave attracted inflows. Cosmos and Cardano saw minor outflows.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.