Institutional investors are pouring money back into crypto, marking a significant shift after a long dry spell.
Big Week for Crypto
Last week saw a whopping $644 million flow into crypto investment products, according to CoinShares. This is a major turnaround; it ended a five-week losing streak, the worst in a decade. Every single day last week saw inflows, a stark contrast to the previous 17 days of continuous outflows. This suggests a change in investor sentiment. Total assets under management are up 6.3% from their March 10th low.
Where the Money Went
The United States led the charge, accounting for a massive $632 million of the inflows. Other countries also saw significant investment, including Switzerland ($16 million), Germany ($14 million), and Hong Kong ($1.2 million).
Bitcoin (BTC) was the biggest winner, attracting $724 million in inflows. This reversed a five-week outflow period that totaled nearly $5.5 billion. Other cryptocurrencies that saw inflows included Solana (SOL), Polygon (MATIC), and Chainlink (LINK).
However, not all cryptocurrencies benefited. Ethereum (ETH), Sui, Polkadot (DOT), Tron (TRX), and Algorand (ALGO) all experienced outflows.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies, as it’s a high-risk market.
