Looking at the investments of corporate executives, it is striking that inflows to Bitcoin and altcoin mutual funds have increased sharply over the past week. According to data from CoinShares, Ethereum (ETH) seems to have broken its 9-week outflow curse. As Kriptokoin.com, we are providing the details…
$ 75.3 million in funds flowed into Bitcoin and altcoin products
According to data released by CoinShares on Monday, digital asset investment products recorded a cumulative inflow of $ 75.3 million last week. . Bitcoin (BTC) investment products saw $25.1 million worth of inflows, while Ethereum products attracted $20.9 million. Positive entries were also reported for several altcoins. Solana (SOL), Polkadot (DOT), and Ripple (XRP) products also recorded net positive entries this week.
Fund entering crypto funds has risen for four consecutive weeks. This presents signs that the large declines at the end of 2021 are starting to reverse. In a four-week period, crypto funds raised $209 million. Institutional executives are thought to have reduced their investment in cryptocurrency products at the end of 2021 to generate profits before the end of the year and also to avoid excessive market volatility. Bitcoin’s Fear and Greed Index, which measures market sentiment, has stabilized in recent weeks, while it was in “extreme fear” in early January, showing that the market has emerged from the extreme fear phase.
Institutions play an important role in the market
While experts remain confused as to whether the market has made a definitive bottom, CoinShares’ introductory data offers an analysis of institutional investor sentiment. Institutional demand for cryptocurrency assets has grown significantly over the past year and is now playing a larger role in influencing market dynamics.
Grayscale, the largest crypto asset manager, currently has $37.6 billion in assets under management and is looking to convert its flagship GBTC Bitcoin product into an exchange-traded fund (ETF). . Meanwhile, in Canada, the Purpose Bitcoin ETF continues to post large inflows, reflecting investors’ strong appetite for the spot product.
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