Crypto Funds Attract Over $1 Billion in a Week

Inflows into crypto investment products reached $1.06 billion from March 9 to 13.

Between March 9 and 13, inflows into cryptocurrency investment products reached $1.06 billion. This positive trend has continued for the third consecutive week, reported CoinShares analysts.

The total volume of assets under management increased by 9.4% to reach $140 billion. Experts noted that in times of market instability, investors continue to view digital assets, primarily Bitcoin, as a safe haven.

The majority of the inflow (96%) was driven by investors from the United States. Hong Kong, Canada, and Switzerland accounted for $23.1 million, $19.4 million, and $10.4 million, respectively.

Germany recorded its first weekly outflow of the year, amounting to $17.1 million.

Bitcoin-based instruments attracted $793 million. Over three weeks, this figure reached $2.2 billion, partially offsetting the previous five-week outflow of $3 billion. Structures allowing for short positions on Bitcoin gathered $8.1 million.

Ethereum-based funds received $315 million. On March 12, the Nasdaq launched trading of a yield ETF based on the second-largest cryptocurrency by market capitalization from BlackRock. The iShares Staked Ethereum Trust (ETHB) has already attracted $45.65 million.

Investment products based on XRP have been losing funds for the second week in a row, with an outflow of $76 million.

Earlier, from March 2 to 6, inflows into cryptocurrency investment products amounted to $619 million.