Crypto Funds Saw Inflows of $862M Last Week Following $1B of Outflows the Week Before: CoinShares

The previous week's $1 billion of outflows brought to an end a run of seven straight weeks of net inflows.

Digital asset investment products recorded inflows of $862 million last week following outflows of nearly $1 billion the week before, The trend was led by U.S.-based funds, which saw $897 million of inflows, while Europe and Canada witnessed a combined $49 million of outflows., coincided with a recovery in BTC's price which sat at just under $70,000 on March 29, up nearly 10% on a week earlier., which provides a weighted performance of the digital asset market, rose around 8.6% during the same period. BTC has however started this week in the red, currently down nearly 6% in the last 24 hours, sitting just below $65,500.

"While this recovery is encouraging, ETF activity is slowing down, with daily trading turnover now at US$5.4bn, down 36% relative to its peak 3 weeks ago, although this remains well above the US$347m 2023 average, implying the initial market hype is cooling," CoinShares said. The previous week's $1 billion of outflows brought to an end a run of seven straight weeks of net inflows, culminating inin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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