• Bitcoin inflows were $133 million last week, while Ethereum inflows were $2.9 million.
  • Total inflows into cryptocurrency products totaled $136 million, marking the third consecutive week of inflows.
  • Altcoins such as XRP, Solana, Polygon, Litecoin, and Aave saw modest inflows.

Last week saw $136 million in inflows into crypto investment products as confidence in the digital asset investment space continued to gain momentum.

Last week marked the third consecutive week of inflows, according to data from crypto asset manager CoinShares. Investors have put more than $470 million into various crypto products, and the past three weeks have completely revised the outflows recorded in the past nine weeks.

coinshares report Highlighting the digital asset investment market, year-to-date flows are a net positive of $231 million.

Bitcoin saw an inflow of $133

Institutional investors’ attention has mostly been focused on bitcoin products, as bitcoin has been mostly bullish in the past few weeks. That is explained by Bitcoin’s weekly inflow of $133 million, well above Ethereum’s $2.9 million. In fact, we saw $1.8 million in outflows from bitcoin short products, confirming this view.

Major altcoins such as XRP, Solana, Polygon, Litecoin and Aave registered small inflows. Still, it suggests investors have a mostly positive outlook on the flagship crypto compared to altcoins.

Crypto Market Bullish After BlackRock ETF Filing

This comes at a time when sentiment across the broader cryptocurrency market has turned almost bullish, with spot prices for most cryptocurrencies rising.

A number of spot Bitcoin ETF proposals led by top asset manager BlackRock have helped the bulls soar to new year-to-date levels. [Read more]

However, the increase in inflows comes amid a decline in trading volumes. Last week, he had $1 billion in total investments, and his two-week average prior to that was $2.5 billion. According to CoinShares, the low trading volumes seen throughout the week can be attributed to seasonality, a scenario typically observed between July and August.

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