Bitcoin (BTC) Investment Products Attracted $724M In Fresh Inflows Last Week, Data Shows

Bitcoin (BTC) investment products attracted $724 million in fresh inflows last week, marking a sharp reversal after five consecutive weeks of outflows.

Bitcoin BTC/USD investment products enticed $724 million in fresh inflows last week, marking a striking turnaround after five straight weeks of outflows, according to CoinShares' latest report on Monday.

What Happened: The stellar return unfolded as the broader digital asset investment market reaped $644 million in inflows. This snaps a prolonged trend of investor withdrawals, which had seen a total of $5.4 billion flow out of crypto in the previous five weeks, with Bitcoin alone bearing the brunt of the outflows.

CoinShares noted that inflows were recorded every single day last week, highlighting a "decisive shift in sentiment" towards cryptocurrencies.

"The recovery in inflows marks renewed optimism in crypto markets," wrote James Butterfill, head of research at CoinShares.

Of the total inflows, the U.S. drove a majority of the rebound, contributing $632 million. Switzerland, Germany and Hong Kong also joined in, registering inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Also Read: Bitcoin Could Replace Tesla In ‘Magnificent 7’ To Boost Returns, Reduce Volatility: Standard Chartered

Why It Matters: While Bitcoin took the center stage, other digital assets displayed mixed investor interest.

Ethereum ETH/USD encountered outflows of $86 million, the most significant withdrawal among altcoins. This continues a cautious trend among Ether investors.

Other networks such as Sui SUI/USD, Polkadot DOT/USD, Tron TRON/USD, and Algorand ALGO/USD also posted minor outflows.

Conversely, Solana SOL/USD bucked the trend among altcoins, noting a gain of $6.4 million in fresh capital. Polygon MATIC/USD and Chainlink LINK/USD followed with $0.4 million and $0.2 million in inflows, respectively.

Short-Bitcoin products, which benefit from decreasing BTC prices, also saw $7.1 million in outflows, adding to the signals of a market turnaround.

The latest figures from CoinShares indicate that assets under management in crypto investment products have experienced a 6.3% increase since reaching their lowest point on March 10.