Investors Put Less Money Into Crypto Funds Last Week as Bitcoin Market Stagnated
Last week's drop in crypto investment inflows to a fourth of the prior week's pace came as prices retreated in prices for bitcoin and other digital assets.
Mar 9, 2021 at 5:19 p.m. UTCUpdated Mar 2, 2023 at 10:36 p.m. UTC
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- Inflows dropped to $108 million during the week ended March 5, the lowest since early January, and down from about $400 million the prior week.
- Bitcoin-focused products accounted for 90% of crypto fund inflows last week, with minor inflows to Ethereum and Polkadot investment products, according to CoinShares.
- Despite a quiet week, net flows so far this quarter – just two-thirds of the way through the three-month period – have already matched the total for Q4 2020.
- Investment products now represent 7% of bitcoin trading volumes in 2021 compared with 4% in 2020, according to CoinShares.
- According to a separate report by CryptoCompare, digital assets under management for exchange-traded products (ETPs) doubled to $43.9 billion in February, with a majority of assets residing in Grayscale's Bitcoin Trust (GBTC).
- Last week, CoinShares launched a physically backed Ethereum ETP on the Swiss SIX exchange under the ticker "ETHE."
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