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Crypto Funds Saw Fourth Week of Inflows as Ether Funds Turned Around
Some $75 million went into digital-asset funds last week as ether funds saw their first inflows in 10 weeks.
Crypto funds attracted $75 million of fresh investment last week, the fourth straight week of net inflows, showing continued confidence in bitcoin and other digital assets as prices recovered from January's swoon.
The report from the digital-asset manager CoinShares covered the seven days through Feb. 11. The price of bitcoin (BTC) fell 17% in January, but it's up 11% so far this month.
STORY CONTINUES BELOW
Ethereum funds saw their first inflows in 10 weeks, at $21 million.
The inflows remain relatively minor in comparison to the inflows during the fourth quarter of 2021, according to CoinShares.
The firm noted that there were regional differences in the week's data, with $5.5 million of outflows in the Americas and $80.7 million of inflows into European investment products.
The price of ether (ETH), Ethereum blockchain’s native cryptocurrency, went down 5.9% in the past week while trading around $3,000 – after gaining 16% the week before.
Bitcoin funds saw inflows of $25 million last week, a slower pace of growth compared with the $71 million of inflows the week before.
