Inflows into crypto products total $230 million since the start of the year

From January 28 to February 3, inflows into crypto investment products totaled $76 million. Positive momentum continued for the fourth week in a row, with inflows for the year to date reaching $230 million, according to CoinShares analysts CoinShares.

With the positive revaluation of digital assets AUM since the start of the year jumped 39%, to $30.3 billion — the highest since mid-August 2022.

The highest activity remained in Bitcoin funds — investors allocated $68.5 million to this product type.

Structures that enable shorting the first cryptocurrency recorded inflows of $8.2 million. Over the past three weeks they have attracted $38 million — 26% of assets under management.

Outflows from products based on various altcoins totaled $2.5 million. The negative momentum continued for the tenth straight week.

Altcoins saw predominantly inflows. Ethereum-based products attracted $0.7 million, Solana $0.5 million, Polygon $0.3 million, and BNB $0.1 million.

As Adam Farthing of B2C2 noted, for the continuation of Bitcoin’s rally to occur, the price must clear the crucial level at $25,000.

Earlier, LookIntoBitcoin analysts allowed Bitcoin to enter the early stage of a bull market.