Crypto Fund Inflows Accelerated to $233M Last Week, Most Since Early March

Inflows into digital asset investment products nearly tripled to $233 million last week, according to a report Monday by CoinShares, a digital asset management firm.

Last week’s inflow of $150 million was the largest since early March, possibly reflecting bitcoin’s (BTC) brief rally to an all-time high just below $65,000. However, the cryptocurrency has since declined to around $55,600 at press time.

• “Inflows this week were unusually spread over a varied set of digital assets,” according to CoinShares.
• Bitcoin products saw the largest inflows of $108 million while Ethereum (ETH) products continued to see outsized inflows of $65 million relative to its market cap.
• “XRP has been the most popular with weekly inflows of $33 million, nearly doubling its assets under management (AUM) to $83 million.” XRP has increased roughly two-fold month-to-date.
• “Digital asset investment products saw much higher trading turnover for the week. This represents a rise of 59% compared to last week and similar levels to early February 2021.”