Crypto Fund Inflows Hit 2-Month High
Crypto investment funds have seen a sustained period of growth and investor enthusiasm, with net inflows totaling $176 million last week, according to CoinShares’ digital asset fund flows report.
This marks the eighth consecutive week of inflows, bringing year-to-date inflows to a net positive of $1.32 billion.
Bitcoin funds saw the largest inflows, with $155 million, attributed to sustained optimism that the U.S. SEC will soon approve a spot Bitcoin ETF product.
Altcoins also saw significant inflows, with Solana, Ethereum, and Avalanche funds recording net inflows of $13.6 million, $3.3 million, and $1.8 million, respectively.
Uniswap and Polygon funds also recorded minor inflows of $550k and $860k, respectively. Recent inflows come as trading volumes on crypto ETPs surge, signaling an expectation of more gains among traditional and institutional investors.
CoinShares noted that ETP trading volumes now average $3 billion weekly, twice the average of $1.5 billion this year.
The ETP share of crypto trading volumes is averaging 11%, well ahead of the long-term historical average of 3.4%.
(With inputs from Shikha Singh)
You need to login in order to Like
