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Bitcoin Records Its Largest Weekly Inflow Since December 2021

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Portsmouth Bitcoin Blackjack-online-review

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A recent report from digital asset manager CoinShares showed a massive increase in crypto investment products for last week. The inflow hit $127 million, reaching its highest level since December last year. The report analyzed capital inflows to and from leading institutional crypto investment funds.

Capital Inflows For BTC For The Seventh Straight Week

The market has recorded seven consecutive weeks of inflows. This shows that despite the recent downtrend in the market, institutional investors are still interested in cryptocurrencies. Additionally, the currency geopolitical tension in Russia and its global impact has not affected institutional investors’ interests in crypto assets.

European-based funds recorded an outflow of $24 million while North American funds saw an uptick of inflows to $151 million.

Also, the report revealed that Bitcoin (BTC) had capital inflows for the seventh consecutive week while Ethereum (ETH) products recorded their highest gain in 13 weeks.

As expected, Bitcoin has been the dominant crypto asset and the most important investment choice for institutional investors. The market recorded a $95 million inflow for the cryptocurrency last week, which marks its highest level since December last year.

On the other hand, the market recorded a $25 million inflow for Ethereum (ETH)-based products in the same week.

While inflows for multi-asset cryptocurrency funds hit $8.6 million last week, those based on individual altcoins stayed flat. CoinShares Crypto Fund had an outflow of $21.5 million while the Purpose Crypto Fund recorded the largest of the inflows at $130 million.

General Sentiment Within Crypto Market Remains Positive

Although the crypto market had shrunk by 10% since the beginning of the month, the general sentiment within the crypto market has remained positive However, as the geopolitical tension keeps hitting up, the direction of the market in terms of Digital Asset Fund Flows for next week remain uncertain.

Glassnode, an on-chain analytics provider, stated that Bitcoin balances on leading exchanges remain a net negative for the past seven months. Flows coming into and going out from crypto exchanges can be used to determine market sentiment. When more inflows are recorded, it indicates that investors are looking to liquidate. On the other hand, when crypto funds are moving out from exchanges, it could indicate that hanging on to their assets.

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