The crypto asset manager and research firm CoinShares reported that institutional investors injected millions of dollars into digital asset investment vehicles last week. According to CoinShares’ latest Digital Asset Fund Flows Weekly Report, there was a significant turnaround in the trend, with crypto products finally halting a 10-year streak of investor outflows.
The report stated, “Digital asset investment products experienced a reversal last week, ending a five-week period of outflows by receiving a total of $644 million in inflows. Total assets under management have increased by 6.3% since hitting a low point on March 10th. Notably, there were inflows recorded every day last week, following a 17-day consecutive outflow period, indicating a clear shift in sentiment towards the asset class.”
The majority of inflows, totaling $632 million, came from the United States. Additionally, Switzerland, Germany, and Hong Kong contributed $16 million, $14 million, and $1.2 million in crypto inflows, respectively.
Bitcoin (BTC) attracted the largest portion of inflows at $724 million, breaking a five-week outflow streak and reaching nearly $5.5 billion. Other cryptocurrencies like Solana (SOL), Polygon (MATIC), and Chainlink (LINK) saw inflows of $6.4 million, $0.4 million, and $0.2 million, respectively.
On the other hand, Ethereum (ETH), Sui, Polkadot (DOT), Tron (TRX), and Algorand (ALGO) products experienced outflows totaling $86 million, $1.3 million, $1.3 million, $0.95 million, and $0.82 million, respectively.
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