03.04.2024

Inflows into cryptocurrencies totaled $862 million for the week

CoinShares researchers have published another investment report. According to the data as of April 2, 2024, products in digital assets showed good results. According to experts, the results indicate a positive sentiment of market participants. The net inflow of funds amounted to $862 million.

According to researchers, this almost completely offset the record outflow of $931 million recorded a week earlier. This recovery is encouraging for traders and investors, but activity in the ETF market is slowing down. Trading turnover stands at $5.4 billion per day. This is down 36% from the peak recorded 3 weeks ago. This implies that the excitement around this type of instruments is gradually decreasing.

At the regional level, the divergence continues. The U.S. saw outflows of $897 million, while in Europe and Canada the total reached only $49 million. Last week, inflows into bitcoin cryptocurrency-related products totaled $865 million. Interest from new ETF issuers in the U.S. has resumed. Inflows of $1.8 billion offset outflows from Grayscale of $967 million.

As for Ethereum (ETH)-related products, there was a negative result for the 4th consecutive week. This time this indicator amounted to $19 million of outflows. The leader of the sector was Solana (SOL) with $6.1 million, while Filecoin, Polkadot and Chainlink also posted $3.9 million, $2.4 million and $1.9 million respectively.

According to data as of 12:50 p.m. Moscow time on April 2, 2024, the value of bitcoin fell 4.7% overnight to $66,311. The market capitalization of the digital coin BTC fell to $1.3 trillion, and daily trading volumes on the spot market were equal to $42.15 billion.

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Коля Мельниченко

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