Ethereum

Reserve Dollar

Bitcoin

Standard

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">The 6-week run of net inflows in digital asset investment products has ended as investors took profits last week after the recent crypto rally. Digital asset funds saw $30 million in outflows last week, most of which were focused on Bitcoin, <a aria-label="according to CoinShares (opens in a new tab)" href="https://blog.coinshares.com/volume-128-digital-asset-fund-flows-weekly-report-827534831424" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">according to CoinShares</a>.</p> 
<h3 id="ethereum-sees-inflows-after-successful-upgrade">Ethereum Sees Inflows After Successful Upgrade</h3> 
<p>Digital asset funds recorded $30 million in outflows last week, terminating the prior 6-week inflow streak, according to the latest CoinShares report. The change in sentiment is likely because investors took profits after the price of <a href="https://www.reuters.com/technology/bitcoin-pushes-past-30000-investors-eye-end-rate-rises-2023-04-11/" target="_blank" aria-label="Bitcoin exceeded (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Bitcoin exceeded</a> the $30,000 mark earlier this month.</p> 
<p>The most significant portion of the outflows was in the US and Canada, at $21.9 million and $32 million, respectively. The negative sentiment in North America was offset by optimism in Germany, which registered $29 million in inflows.</p> 
<p>According to the report, outflows were almost entirely focused on Bitcoin-related funds, totaling $53 million last week. In the past four weeks, Bitcoin investment products saw four consecutive weeks of net inflows of $310 million.</p> 
<p>As opposed to <a href="https://tokenist.com/digital-asset-funds-see-largest-weekly-inflows-since-july-2022/" rel="dofollow" class="deco-link">previous weekly reports</a>, Ethereum investment funds saw $17m million in inflows this week as investors gained confidence in the world’s second-biggest cryptocurrency after the successful completion of the Shapella upgrade. Interestingly, the majority of Ethereum inflows came from Europe. Short-bitcoin investment funds also recorded minor inflows last week.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="what-fueled-bitcoin-s-recent-rally">What Fueled Bitcoin’s Recent Rally?</h3> 
<p>The end of the 6-week run of inflows for Bitcoin funds follows the latest rally in the top cryptocurrency that saw its price break above the $30,000 psychological level for the first time in 10 months. That week, digital asset funds <a href="https://blog.coinshares.com/volume-127-digital-asset-fund-flows-weekly-report-cc03576c08ac" target="_blank" aria-label="saw inflows of $114 million (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">saw inflows of $114 million</a>, of which $104 million was seen in Bitcoin-related products.</p> 
<p>The restored positive sentiment around digital assets comes as investors keenly await the end of the interest rate-hiking cycle by the Federal Reserve and other global central banks. The Fed has been <a href="https://tokenist.com/march-brings-another-25-bps-hike-despite-worries-stemming-from-bank-crisis/" rel="dofollow" class="deco-link">raising interest rates</a> nonstop since March 2022, putting severe pressure on cryptocurrencies and other risk assets.</p> 
<p>But now, rates are near the expected peak of above 5%, implying one more 0.25 percentage point hike at the Fed meeting next month. Analysts at Standard Chartered believe the end of the tightening cycle could propel Bitcoin’s price to a <a href="https://tokenist.com/crypto-winter-is-over-btc-to-hit-100000-by-2024-standard-chartered/" rel="dofollow" class="deco-link">whopping $100,000</a> by the end of 2024 as crypto winter likely approaches its end.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Will we see another run of inflows in digital asset investment products after the Fed stops raising rates? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/six-week-streak-of-net-inflows-for-digital-asset-funds-ends-as-investors-take-profits/">Six-Week Streak of Net Inflows for Digital Asset Funds Ends as Investors Take Profits</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Six-Week Streak of Net Inflows for Digital Asset Funds Ends as Investors Take Profits

Tabla de contenidos

TokenInsight

Otros artículos publicados el 24 abr 2023

The World's First App for Crypto Freelancers: Growth Hack Tool Disrupts Remote Work Market

Bitcoin Ordinals extension inaccessibility leads to double-spend attacks on first BRC-20 wallet p...

Crypto Exchanges Gemini and Coinbase Join Bidding for Celsius Network Assets in Upcoming Auction

Zimbabwe to Launch Gold-Backed Cryptocurrency

Digital Identity Privacy: What Experts Say and Why SelfKey Agrees

Web3 Start-up Funding Drops by 82% YoY, Says Crunchbase | Gabbar News

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!