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.
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Digital Store
