• CoinShares reported that cryptocurrency investment products saw net inflows of $114 million last week, with bitcoin-related products receiving the majority share.
• Ether-related products had only $300,000 of net inflows last week despite its successful Shanghai upgrade resulting in an increase to above $2,000.
• Blockchain-related equities garnered a net $5.8 million in inflows pushing total assets under management to a high of $1.9 billion since October 2022.
FinanceCrypto Investments Report Positive Flows for Fourth Consecutive Week
CoinShares reported that cryptocurrency investment products saw net inflows of $114 million last week, with bitcoin-related products taking the majority share at $104 million. This marks the fourth straight week of positive flows and brings the total amount invested over the four weeks to $345 million.
Bitcoin Products Take Majority Share
Bitcoin began the week by crossing $30,000 for the first time since June 2022 and this has helped fuel investor confidence leading to increased flows into bitcoin related products totalling $104 million out of the total inflow amount of $114 million.
Ether Products See Smaller Inflows
Ether-related products only managed to garner net inflows of just over 300 thousand dollars even though its successful completion of the Shanghai upgrade led to a surge in its price to above 2 thousand dollars for the first time since August 2022.
Blockchain Equities Receive Net Inflows
Blockchain-related equities received a boost with a net inflow amounting to 5 point 8 million dollars pushing total assets under management up to 1 point 9 billion dollars since October 2022 – prior to when crypto exchange FTX collapsed.
Rising prices continue to drive investor sentiment towards cryptocurrency investments as evidenced by four consecutive weeks of positive flows and record highs reached by certain digital asset classes such as blockchain related equities and ether tokens which reached new all time highs this past week due largely in part due do upgrades being rolled out on their respective networks