Institutional investment is now coming back into crypto funds after five weeks of steady outflows, with BTC being the preferred asset and ETH sliding out of favor.
CoinShares, a crypto investment provider, reported inflows for some institutional products in its weekly Digital Asset Fund Flows report issued on Jan. 24. It’s the first time there’s been a net positive inflow in five weeks, as $14.4 million re-entered the market when investors bought the dip. These inflows occurred amid a period of severe market downturn, according to the researchers, implying that investors “view this as a purchasing opportunity” at present prices.
Although money continues to flow out of CoinShares’ BTC fund, 21Shares and ProShares saw slight gains. Bitcoin, which generated $13.8 million in inflows for the week, received the majority of the inflows. With a $15.6 million outflow throughout the period, Ethereum was the greatest loser, but multi-asset products made up the difference, resulting in a net overall inflow.
The current seven-week outflows of ETH amount $245 million, according to CoinShares, “highlighting much of the recent bearishness amongst investors has been concentrated on Ethereum rather than Bitcoin.”
Will it trigger some reversal in Bitcoin? Let us see.
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