Crypto Funds See Continued Inflows for the Third Consecutive Week

From April 26 to May 2, the net inflow into cryptocurrency investment funds amounted to $2 billion, compared to $3.4 billion in the previous period. This is noted in a report from CoinShares.

The positive trend has persisted for the third consecutive week, with total inflows for this timeframe reaching $5.5 billion.

The overall assets under management in digital asset funds rose to $156 billion.

Bitcoin remained the primary beneficiary of the inflows, attracting $1.84 billion into products linked to the digital currency. Additionally, $6.4 million flowed into instruments allowing short positions on the leading cryptocurrency.

Ethereum funds recorded an inflow of $149 million, while Solana saw a modest $6 million.

Products based on XRP and Tezos received $10.5 million and $8.2 million, respectively.

According to SoSoValue, U.S. Bitcoin ETFs garnered $1.81 billion in inflows over the week.

It is worth mentioning that Saifedean Ammous, author of «The Bitcoin Standard,» has ruled out the negative influence of institutional investors on Bitcoin.