Crypto Funds Attract $1.2 Billion in a Week

Crypto funds attracted $1.2 billion in a week, continuing a positive trend.

Between April 20 and 24, inflows into investment products based on digital assets amounted to $1.2 billion. This positive trend has continued for the fourth consecutive week, according to a report by CoinShares.

The total volume of assets under management increased to $155 billion, marking a record high since early February. The market’s recovery was aided by the rise in Bitcoin’s price above $76,000. 

The primary inflow was into Bitcoin, amounting to $933 million. Since the beginning of the year, investments in the leading cryptocurrency have reached $4 billion. Instruments allowing short positions on digital gold received $16.5 million.

Ethereum funds attracted $192 million, with interest in the asset remaining stable for the third consecutive week. 

The United States maintained its lead in investment volume with $1.1 billion. In Germany, fund inflows doubled to $61.7 million. Investment funds in Switzerland and Canada also recorded capital inflows of $35.2 million and $15 million, respectively.

Analysts noted a sharp increase in interest in blockchain company stocks. Over three weeks, $617 million was invested in ETFs based on these securities. 

Experts linked the current activity to growing demand from institutional investors. Meanwhile, market participants remain cautious, awaiting the U.S. Federal Reserve’s decision on interest rates on April 29.

Earlier, from April 13 to 17, cryptocurrency-based investment products attracted $1.4 billion.