Digital asset firm CoinShares says there’s a potential shift in sentiment among crypto investors as inflows return to the markets.
In a new report, CoinShares tracks tens of millions of dollars that’s now flowing into crypto funds after a lengthy hiatus.
“For the first time in five weeks, digital asset investment products saw inflows totalling $63 million last week. And for the first time in nine weeks, inflows were seen across all individual digital assets implying a turnaround in sentiment amongst investors.”
According to CoinShares, investors are primarily interested in Bitcoin investment products, followed by Ethereum.
“Bitcoin saw the most inflows totalling $39 million, with minor updates to the previous weeks’ data highlighting a two-week run of inflows now. While Ethereum, following three weeks of outflows, saw inflows totalling $18 million.”
Other altcoins are also getting the attention of investors. Emerging blockchain platform Cardano (ADA) witnessed inflows of $2.10 million while XRP saw an influx of capital worth $1.20 million.
Interoperable blockchain protocol Polkadot (DOT) and BTC fork Bitcoin Cash (BCH) are also on the radar of investors with $700,000 and $400,000 worth of inflows, respectively.