While the crypto asset investment space has seen significant outflows in recent weeks, the reverse is now happening, with inflows totaling $441 million in the last week alone.
Despite recent market conditions, the inflows recorded over the past week suggest that many may view the recent decline as a “buying opportunity” for investment rather than a signal to retreat, reported James Butterfill, head of research at CoinShares.
This week, funds for buying BTC have been widely inflowing, and other Crypto assets such as ETH and SOL have also received great attention. BTC still leads the way with a scale of $384 million. However, this also shows that BTC is no longer as almost completely dominant as before.
CoinShares’ report shows that Solana has performed particularly well in terms of inflows, attracting $16 million, bringing the year-to-date inflows to $57 million. From a fund flow perspective, it is the best performing Crypto asset.
Ethereum also saw a favorable correction, seeing inflows of $10 million, though it was the only major Crypto asset to still see net outflows so far this year.
Meanwhile, major investment firms such as ArkInvest, Fidelity and BlackRock have noticed similar inflow trends.
The market was particularly strong in the United States, where BTC received $384 million from local funds. However, not every region reflected this optimism.
According to Butterfill data, German funds saw a net outflow of $23 million, which may have been affected by the German government's recent asset sales. The broader market remains relatively bearish, and several major Crypto assets fell sharply last week.
BTC fell to a low of $53,000 on Friday, its first drop since February. Nevertheless, BTC, ETH, and SOL have recovered slightly over the past 24 hours.
BTC rose slightly by 0.5% and re-entered the $57,000 threshold, while ETH rose by 2.2% and also returned to the key $3,000 mark. Similarly, SOL also followed closely behind these major Crypto assets with a 2.4% increase.
VanEck, one of the world’s largest asset managers and issuer of a BTC ETF, is planning to launch a Solana-based ETF.
VanEck recently filed an application with the U.S. Securities and Exchange Commission (SEC) for the first spot Solana ETF, marking a pivotal moment for the crypto asset.
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