After weeks of capital outflows from digital currency funds, new capital entered these financial products for the third week in a row. About $ 71 billion was invested in special funds for bitcoin last week, which may be one of the reasons why the digital currency continues to grow.
According to Quin Desk, capital inflows into digital currency funds have quadrupled in the past week, indicating positive investor sentiment as bitcoin prices exceed $ 40,000.
Funds for digital currency raised $ 85 million in the seven days to last Friday, according to a report by CoinShares, a digital asset management company, on Monday. This is the third week in a row that these funds have experienced capital inflows.
Kevin Shears’ report also shows that most of this material is from North and South America. Brazil and Canada accounted for 88% of last week’s total.
Bitcoin managed to offset some of the sharp decline in the first week of 2022. At the time of writing, bitcoin was trading at about $ 44,660, up from $ 32,900 a few weeks ago. However, the price of bitcoin is still not close to its highest value of about $ 69,000 in November.
Last week, about $ 71 million flowed into bitcoin mutual funds, the largest since early December.
Despite the general uptrend, Atrium Mutual Funds leaked $ 8.5 million, down $ 26.8 million last week. The digital currency has risen 16 percent in the past five days, but is still 2.2 percent lower than last month.
“Inflows into Atrium-specific investment products show that investors’ feelings about this digital currency are declining,” said Kevin Shears. The capital flows in the special funds of Atrium are negative for the ninth consecutive week.
In the last three weeks, digital currency funds have recorded $ 532 million in capital outflows in five weeks.
Pool-oriented funds, such as Solana, Polkadat and Cardano, had capital inflows during this period. Kevin Shears said Terra’s digital currency-focused financial products received their first significant inflow last week, totaling $ 1.4 million, a 26% increase in the fund’s holdings.
In addition to Atrium, Binance Quinn and Theron are two other assets that reported capital outflows last week. BainanceQueen-oriented financial products had a capital outflow of about $ 700,000 and theron-oriented financial assets had about $ 500,000.
The publication The amount of capital invested in funds in digital currency has quadrupled in the last week, appeared for the first time in digital currency.