Inflows into cryptocurrency investment products for 1–7 April totaled $57 million, up from $2.5 million the previous week. Such an assessment was provided by analysts CoinShares.
The year-to-date figure moved out of negative territory, standing at $40 million.
Despite positive sentiment, trading volume across the instruments did not exceed $1 billion.
Bitcoin products accounted for 98% of total inflows ($45 million). A week earlier, inflows of $8.8 million were recorded.
From products that allow shorting Bitcoin, $0.6 million was withdrawn. In the previous reporting period, an outflow of $2.5 million was recorded.
The upcoming 12 April the hard fork Shapella did not spark interest in Ethereum funds. They recorded inflows of $0.6 million (-$2.8 million week on week).
With the exception of basket-of-altcoins-based products (-$0.4 million), positive momentum was observed — Uniswap-, Polkadot- and Polygon-based funds attracted $0.5 million, $0.4 million and $0.23 million, respectively.
In the night of 11 April, the price of the first cryptocurrency reached $30,000 — such levels were last seen in June 2022.
In March, CNBC’s poll of major players forecast a rise in Bitcoin to $100,000.