Mondays carry significance for investors as they mark the release of the report reflecting market sentiment. The CoinShares report measures institutional investor demand by tracking BTC and altcoin investment funds, providing key signals to investors curious about the current state of the market.
According to the recently published report, there was an inflow of $346 million last week. Institutional crypto funds, which have seen a consistent net inflow for the last 9 weeks, are trying to convince investors that the recent rise could be a sign of a trend change. However, investors are not convinced that this movement, following months of misleading uptrends, marks the beginning of a bull season.
While Bitcoin inflows amounted to $312 million, the total inflow for 2023 has surpassed $1.5 billion. Ethereum saw an inflow of $34 million last week, reaching a 4-week total of $103 million. The report states:
“This inflow was stimulated by the expectation of the launch of a spot-based ETF in the United States and represents the largest inflow since the end of the 2021 bull market. The combination of price increases and inflows has raised the total assets under management (AuM) to the highest level in the last 1.5 years, at $45.3 billion. Regionally, Canada and Germany constituted 87% of the total inflows, while there was only a $30 million inflow from the United States last week. Those waiting for ETF approval for entry might have been left behind.”
Inflows to Solana slowed down and dropped to $3.5 million. DOT and LINK saw inflows of less than $1 million.
The information in this article does not contain investment advice. Investors should consider the high volatility and, therefore, the risk of cryptocurrencies and make their transactions based on their own research.