Crypto investment products register $160M inflows – breaking six-week negative streak
Digital asset investment products broke their six-consecutive-week outflow strike and recorded $160 million in inflows during the week of March 20, according to the CoinShares report.
Last week’s inflow marks the most significant positive move since July 2022, as CoinShares data indicates. Crypto-based investment products have recorded outflows since the beginning of February – with a total value of $408 million.
The report acknowledges that the inflows were seen relatively late compared to the broader crypto market. It notes that it may be due to “increasing fears among investors about stability in the traditional financial sector.”
The largest outflow was recorded during the week of March 6 with a total of $255 million in outflows. At the time, this amount represented 1% of the market and wiped out inflows recorded for the entire year.
Flows by asset
Bitcoin (BTC)-based investment products recorded the most significant inflows at $127.5 million – accounting for nearly 80% of the total.
Short-BTC and Solana (SOL) based investment products collected the second and third most significant inflows with $30.8 million and $4.8 million respectively. Short-BTC has recorded inflows even during the six-week outflow strike – indicating that the investment product collected the most inflows since the beginning of the year.
Ripple (XRP) and Polygon (MATIC) also recorded inflows worth $1.2 million and $1.9 million, respectively.
Meanwhile, Ethereum (ETH)-based investment products saw $5.2 million in outflows. This marked the third consecutive week of outflows for ETH-based products. The report says that ETH’s Shanghai upgrade is expected to take place on April 12 – which could cause “investor jitters.”
Streams by supplier
When it comes to the flow of funds based on the providers, ProShares comes out ahead as they saw $68.6 million in inflows – which is 42% of the total amount.
21Shares and 3iQ follow closely behind as second and third by registering $17.8 million and $16.7 million in inflows, respectively.
Meanwhile, CoinShares Physical and CoinShares XBT lost a combined $8.8 million — while Purpose saw another $1.3 million in outflows.
The US invests the most
The report also noted that the US recorded a huge amount of inflows – contributing $69.1 million alone, which accounted for 43% of the total of $160 million.
Germany, Canada and Switzerland followed the US – registering the second, third and fourth most significant inflows with $57.8 million, $26.1 million and $16.6 million respectively.
Meanwhile, Sweden, Brazil and France recorded outflows worth $5.8 million, $3.9 million and $100,000 respectively.
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