Institutions inject a record July-high volume of assets into crypto funds

Between January 21 and 27, $117 million flowed into cryptocurrency investment products — the highest since July 2022, according to CoinShares.

Trading volume reached $1.3 billion — 17% above the year-to-date average.

The strongest activity was concentrated in Bitcoin funds, with investors allocating $116 million to these products. Short-exposure products on Bitcoin attracted $4.4 million.

Outflows from altcoin-based products totalled $6.4 million. The negative momentum continued for a ninth week running.

Altcoins saw positive momentum. Ethereum-based products attracted $4.2 million, Polkadot — $1 million, XRP and Cardano — $0.6 million each, Avalanche — $0.5 million.

Overall, inflows were predominantly seen in altcoins. Ethereum-based products attracted $2.3 million, Solana — $1.1 million, Polygon — $0.2 million. Instruments based on BNB and XRP saw outflows of $0.4 million and $0.2 million respectively.

By the evening of January 29, bitcoin’s price neared the $24,000 level.

Earlier, LookIntoBitcoin experts allowed bitcoin to enter the early stage of a bull market.