Investor interest in cryptocurrency funds is growing, as digital asset investment products have recorded net inflows for the sixth consecutive week. According to a recent report from CoinShares, crypto funds added $261 million last week, surpassing the $736 million in inflows seen throughout 2022.
The inflow streak now matches a six-week run seen in July, marking the longest period of inflows since the end of the crypto bull market in late 2021.
Bitcoin products led the way in inflows, capturing $229 million of the total and bringing year-to-date inflows for Bitcoin funds to $842 million. Analysts at CoinShares believe this surge is likely driven by the growing prospects of a spot bitcoin exchange-traded fund (ETF) in the US, as well as weaker economic data that raises questions about current monetary policy. However, some investors remain skeptical, as short Bitcoin products saw minor inflows of $4.5 million.
Ethereum funds saw their largest inflows since August 2022, totaling $17.5 million—a significant turnaround from the $107 million in outflows earlier this year. Solana, Chainlink, Polygon, and Cardano products also saw minor to moderate inflows.
The majority of the inflows were driven by US investors, who contributed $157 million. Germany, Switzerland, and Canada also maintained steady participation.
While the appetite for crypto funds is growing, prices remain highly volatile, and sustaining the inflow momentum is not guaranteed. However, the data suggests that cryptocurrencies are gaining appeal among investors.
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