CoinShares reports an influx into crypto funds, indicating an increase in investor confidence and a positive market outlook.
Firms in the United States have injected $1.3 billion into crypto funds over the last seven days, according to digital asset firm CoinShares.
The company reported that the recent influx boosted the total inflows over the past three weeks to $3.2 billion. The development shows the growing confidence in investors.
CoinShares noted noted that alongside the $1.35 billion investment in crypto funds, short-Bitcoin exchange-traded products (ETPs) witnessed $1.9 million in outflows, which signals a turn toward positive market sentiment.
The Short-Bitcoin ETP enables investors to gain a ‘short’ exposure to total return investments by tracking Bitcoin’s performance.
Short-Bitcoin Product Sees $44 Million in Outflows
The CoinShares report also indicated that short-Bitcoin products have seen $44 million in total outflows since March, representing more than 55% of their assets under management (AuM).
The report stated that this change represents a “positive sentiment” shift following the Bitcoin halving event in mid to late April.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, demonstrated a robust performance this past week, drawing in $45 million in inflows and exceeding Solana (SOL) with $103 million in total year-to-date (YTD) inflows.
Based on the analysis, SOL saw an influx of $9.6 million over the past week yet fell behind ETH, which accumulated $71 million in year-to-date inflows.
The report noted that Litecoin was the only other altcoin to see inflows over $1 million, with $ 2.2 million last week.
U.S. Leads in Crypto Inflows
The inflows were led by the United States, which contributed $1.3 billion out of the total $1.35 billion in the last week.
Switzerland secured the second spot by adding $66 million to the inflows, whereas Brazil and Hong Kong experienced outflows of $5.2 million and $1.9 million, respectively.
Regional inflows and outflows highlight a significant dissimilarity in investment strategies and sentiments among investors across various markets.
