Crypto Funds See Inflows for Third Consecutive Week

From April 26 to May 2, net inflows into cryptocurrency investment funds reached $2 billion, compared to $3.4 billion in the previous period, according to a report by CoinShares.

The positive trend continued for the third consecutive week, with total inflows over this period reaching $5.5 billion.

The total assets under management in digital asset-based funds increased to $156 billion.

Bitcoin remained the main beneficiary of the inflows. Investors poured $1.84 billion into products based on the digital gold. Instruments allowing short positions on the leading cryptocurrency saw an addition of $6.4 million.

Ethereum funds recorded an inflow of $149 million, while Solana saw a modest $6 million.

Products based on XRP and Tezos received $10.5 million and $8.2 million, respectively.

According to SoSoValue, U.S. Bitcoin ETFs attracted $1.81 billion over the week.

Back in earlier reports, the author of “The Bitcoin Standard,” Saifedean Ammous, dismissed the negative impact of institutional investors on Bitcoin.