In the period spanning from March 23 to March 29, cryptocurrency investment products observed a significant influx of $862 million following a prior outflow of $942 million the preceding week.
CoinShares analysts reported a surge in assets under management from $88.2 billion to $97.9 billion, coinciding with Bitcoin’s upward trajectory towards the $70,000 mark.
Primarily, the focus remained on Bitcoin-related products, with inflows of $865 million nearly offsetting the record outflow of $904 million witnessed in the previous week.
Among the notable movements, clients withdrew $2 million from structures facilitating short positions on Bitcoin, compared to $3.7 million the week prior.
Additionally, outflows from Ethereum funds weakened from $34.2 million to $18.9 million. Conversely, investors displayed interest in instruments tied to Solana (SOL), Polkadot (DOT), and Cardano (ADA), injecting $6.1 million, $2.4 million, and $1 million respectively.
March marked the seventh consecutive month of positive closure for Bitcoin, with a 16.8% increase in its price, according to CoinGlass.
Bitcoin’s price volatility saw it reach an all-time high of $73,000 on March 12, only to experience a brief dip to $61,000 in subsequent trading sessions before reclaiming the $70,000 mark by month-end.
This price fluctuation coincided with a period of fund outflows from ETFs and a diminished likelihood of imminent ETF launches on Ethereum.
