Bitcoin Receives 98% Of The Inflow Into Crypto Investment Products

    Last week, Bitcoin received $56 million of inflow, accounting for 98% of all investments in digital asset investment products.

    On April 11, European crypto investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that digital asset investment products positive management, which totaled $57 million last week, bringing them back to their year-to-date net positive. However, despite this, global Bitcoin (BTC) volume remains at a low of $970 million for the week, just 25% below the year-to-date average of $18 billion for the week.

    Source: CoinShares

    According to the report, inflows were mainly driven by investors in the United States, with $27 million in inflows. Germany, Switzerland, and Canada also have positive sentiment, with inflows of $17 million, $13 million, and $2.2 million respectively, indicating a broad-based confidence increase in the digital assets. 

    Investors are mainly focused on Bitcoin, which received $56 million in inflows, representing 98% of the total. Meanwhile, Bitcoin Short was withdrawn a small amount with a total value of $0.6 million. In contrast, altcoins — including Uniswap’s UNI, Polkadot’s DOT, and Polygon’s MATIC — saw small inflows of less than $1 million each.

    Also in the report, although the Shapella upgrade of the Ethereum network is scheduled for April 12, Ether (ETH) saw a relatively small inflow at $600,000, suggesting investors should be cautious when investing in ETH until they are more confident about the impact of the upgrade.

    Overall, the positive sentiment in the digital asset market last week — despite low trading volume — showed that investors remain confident in the potential of cryptocurrencies.

    As reported, Bitcoin reclaimed $30,000, its highest price since June 2022. Over the past 30 days, BTC recorded a gain of nearly 46%, rising to a 10-month high on April 11th.

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