Crypto Funds Experience Record Inflows in 2023, Analysts Report

Between March 30 and April 5, cryptocurrency investment products saw inflows of $646 million, bringing total inflows for the year to a record $13.8 billion, according to analysts at CoinShares.

Investors allocated $663 million to bitcoin-related instruments, compared to the previous figure of $865 million.

For the third consecutive week, clients have been withdrawing funds from structures that allow shorting the leading cryptocurrency, with $9.5 million withdrawn following $2 million the previous week.

Ethereum funds continued to experience outflows, with $22.5 million withdrawn ($18.9 million in the previous reporting period). The situation for other altcoins is more positive: inflows for Litecoin, Solana, and Filecoin were $4.4 million, $4 million, and $1.4 million, respectively.

Earlier, CEO of Morgan Creek Capital Mark Yusko predicted a “parabolic” rise in the price of the leading cryptocurrency post-halving. He believes the price will reach $150,000 by the end of the year.