For the seventh week in a row, net investor inflows into bitcoin funds exceeded $1 billion, while Ethereum products had their best gain in 13 weeks.
Inflows into cryptocurrency investment funds increased dramatically last week, offering cautious optimism that investors are diversifying their exposure to digital assets despite geopolitical uncertainty and monetary tightening from central banks.
According to CoinShares data, the week ending March 6 saw $127 million worth of cumulative inflows for digital asset investment products. This was the highest weekly inflows since December 12, 2021, according to a CoinShares representative. The influx was also far greater than the $36 million recorded the previous week.
Bitcoin (BTC) products attracted the most money in this week’s rankings, with $95 million in weekly inflow. For the past seven weeks, bitcoin fund flows have increased. Ether (ETH) inflows of $25 million were the largest in 13 weeks, up from $22 million last week. Inflows into multi-asset investment schemes
Bitcoin funds have seen $166 million in cumulative inflowes to date.
Institutions are bullish on #Bitcoin!
The amount of BTC held by public companies has gained significant market share from that held in spot ETFs. https://t.co/DZP2AlMXlh
— Cointelegraph (@Cointelegraph) January 3, 2022
Since the start of the Covid-19 pandemic, crypto markets have had a higher correlation with public equities, suggesting that legacy finance’s shift to a riskier climate in recent months has negatively impacted digital assets. The Federal Reserve’s intentions to start hiking interest rates were largely responsible for this change. Crypto’s demand for higher-risk assets has
While the crypto market has been highly correlated with equities since its inception, according to a crypto hedge fund Pantera Capital, this correlation is “short-lived.” Since 2010, correlations between Bitcoin and the S&P 500 have usually increased over a two-month period before decoupling. Over that time, six S&
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