Digital asset investment products saw a total inflow of $15 million last week. In addition, AuM rose to $36.2 billion from the previous year’s low. Bitcoin saw small outflows of $1.7 million. Inflows to Short Bitcoin amounted to $ 6.3 million last week. Meanwhile, Ethereum received a total of $7.6 million in inflows for the third week in a row.
Crypto investment products saw net inflows
The cryptocurrency market continues to fluctuate back and forth in harsh winter conditions. The leading crypto Bitcoin is trying to hold above $ 20 thousand. The broader market, on the other hand, is struggling to hedge sharp declines.
In this environment, crypto-asset investment products saw a total inflow of $15 million last week. In addition, AuM rose to $36.2 billion from the previous year’s low.
Attracted US and Canadian funds on a regional basis
Regionally, there was a total of $8.2 million in US exchanges. 76% of the mentioned entries come from short positions. Canada saw a total inflow of $7.1 million, while Switzerland attracted $1.9 million in funding.
Additionally, 21Shares and ProShares received inflows of $4 billion and $8.2 billion respectively from the funds. CoinShares XBT and 3iQ saw $2 billion in output.
Bitcoin sees slight exit, short Bitcoin gains entry
Leading crypto Bitcoin saw small outflows of $ 1.7 million. However, short Bitcoin entries totaled $6.3 million last week. On the other hand, short position entries are starting to cool. The recent spike in Bitcoin prices has caused AuM to drop $127 million from $140 million last week.
Ethereum and Cardano saw entry while Bitcoin (BTC) exited funds
Meanwhile, Ethereum saw a total of $7.6 million in inflows for the third week in a row. The entries show a modest return in sentiment endured by 11 consecutive weeks of exits bringing 2022 exits to a high of $460 million.
This improvement in responsiveness is likely due to Ethereum’s efforts to transition from Proof of Work (PoW) to Proof of Stake (PoS). As you follow on Kriptokoin.com, Ethereum Merge is expected to take place later this year. Since this development is very important for Ethereum, it affects the mood positively.
There were small inflows totaling $2.2 million in multi-asset investment products. The broader altcoin market has been remarkably dormant so far this month. In this direction, there were small outflows totaling 0.3 million dollars. Apart from Ethereum, Cardano (ADA) from altcoins managed to attract $ 0.1 million in funds.
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