#Cryptocurrency funds have been continuously growing, with positive capital inflow for the 11th consecutive week. The recent week was no exception.
According to James Butterfill from CoinShares, leading crypto funds, including Grayscale, Coinshares, ProShares, 21Shares, and 3iQ, attracted investments totaling $43 million last week. Although this was less than in previous weeks, this inflow contributed to extending the growth trend to eleven weeks.
Increased Interest in Short Positions
Butterfill emphasized that investors are showing increased interest in short positions, particularly in connection with the recent rise in cryptocurrency prices and the expectation of a potential correction after eight consecutive weeks of Bitcoin growth.
In Europe, funds gained $43 million in investments last week, while the USA recorded a more modest $14 million, with half of this amount directed towards short positions. Hong Kong and Brazil experienced capital outflows of $8 million and $4.6 million, respectively.
Significant Return of Ethereum to the Scene
Ethereum has experienced a significant turnaround after nearly a year of gradual outflows. Over the last seven weeks, funds associated with Ethereum have moved into the black, with a current inflow of $19 million since the beginning of the year.
#Bitcoin remains dominant, with an inflow of $19.8 million last week and a total inflow of $1.7 billion since the beginning of the year. Butterfill also highlighted the popularity of altcoins such as #Solana and Avalanche, which recorded inflows of $3 million and $2 million, respectively. Solana is the most popular altcoin among institutional and accredited investors, with an inflow of $146 million.
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