Crypto Investment Products Reverse 5-Week Outflow Streak, Adding $644 Million in Assets
Cryptocurrency investment products saw a reversal of five weeks of outflows, experiencing inflows of $644 million last week, as reported by CoinShares. This turnaround was largely driven by inflows into Bitcoin exchange-traded funds, which attracted $724 million, while investments in other assets like Solana, Polygon, and Chainlink also contributed modestly. In contrast, Ethereum recorded significant outflows, totaling $86 million. The total assets under management have increased by 6.3% since March 10, demonstrating a recovery in investor sentiment following Federal Reserve Chair Jerome Powell's comments, which eased market concerns by maintaining interest rates. Notably, the majority of the new investments originated from the U.S., indicating a strong interest in digital assets despite previous withdrawals triggered by geopolitical and economic uncertainties. Japan's Metaplanet Inc. also made headlines by purchasing an additional 150 BTC, bringing its total holdings to 3,350 BTC, valued at over $290 million. Overall, these developments reflect a renewed confidence in the cryptocurrency market as multiple factors converged to reinvigorate investment in digital assets.
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