- Digital investment products recorded inflows of $644 million
- This breaks a five-week streak of outflows that coincided with strong bearish sentiment
- Bitcoin investment products saw $724 million, while Ethereum continued lower with $86 million in outflows
Crypto investment products ended a five-week run of outflows, with the market seeing $644 million of inflows last week.
The shift came as Bitcoin climbed above $87,000 and most altcoins posted modest gains to start the week on a positive note.
Investor sentiment reverses, ending five-week outflow streak
According to James Butterfill, head of research at digital asset manager CoinShares, the market for digital asset investment products turned positive last week.
Butterfill highlighted that the $644 million of inflows broke a five-week negative streak. The rebound follows a difficult stretch for digital asset investment products, which recorded $6.4 billion in outflows over the previous five weeks.
As noted by CoinJournal, the negative flows marked one of the worst stretches on record, including a 17-day consecutive outflow period.
Much of that selling pressure stemmed from weak sentiment and macroeconomic headwinds, which pushed BTC below $80,000 and left many altcoins deep in the red. “Notably, every day last week recorded inflows, following 17 consecutive days of outflows — indicating a decisive shift in sentiment toward the asset class,” Butterfill wrote in the report.
In its report, CoinShares said the United States accounted for the bulk of inflows, contributing $657 million. Switzerland added $13.5 million, while Germany experienced a small decline of $8.8 million.
Bitcoin leads with $724 million of inflows
As total assets under management across the crypto investment product space rose 6.3% to $134 billion, Bitcoin led the recovery with more than $724 million of inflows. Bitcoin’s price also jumped roughly 5% over the week, prompting some analysts to forecast a potential move back toward $100,000. Spot exchange-traded funds were a major driver of flows last week, QCP noted.
Elsewhere, XRP saw meaningful inflows of $6.7 million last week, reflecting positive news for the token. Solana also turned positive, drawing in around $6.4 million in inflows.
By contrast, Ethereum bucked the trend as investment products tied to the top altcoin recorded $86 million in outflows.
Other altcoins with notable outflows included Sui and Polkadot, each with approximately $1.3 million withdrawn, while Tron saw about $950,000 in outflows. Algorand also experienced outflows, with investors pulling roughly $820,000 from related products over the past week.