Crypto Funds See $2.45B Influx: Report
Investment products in the cryptocurrency market saw a record influx of $2.45 billion from February 10 to 16, with 99% of the funds coming from Bitcoin, as reported by CoinShares.
The significant increase in net inflows indicates growing interest in spot ETFs, spread across multiple providers. The overall inflow for the year has reached an impressive $5.2 billion, bringing the assets under management back to December 2020 levels at $67 billion.
There was also an increase in investment in structures allowing for shorting on Bitcoin, with $5.8 million being invested, a significant rise from the previous week’s outflow of $0.4 million.
Other cryptocurrencies that received investments in this period include Ethereum with $21 million, Avalanche with $1 million, Chainlink with $0.9 million, and Polygon with $0.9 million.
However, products based on a basket of altcoins saw a decrease in investment by $0.9 million. Similarly, products based on Solana and Cardano experienced negative dynamics, with $1.6 million and $5.9 million in outflows, respectively.
According to CoinShares, the reason for the decline in Solana investments was the failure in February.
