Crypto funds rebound with $1B inflows after five-w
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Crypto funds rebound with $1B inflows after five-week slump
Crypto investment products recorded their first weekly inflows since January last week, snapping a five-week outflow streak of around $4 billion.
Crypto exchange-traded products (ETPs) attracted $1 billion in inflows last week, led by $882 million into Bitcoin (BTC) funds, according to a Monday report from CoinShares.
“From a macro standpoint, it is difficult to attribute the shift in sentiment to a single catalyst,” said James Butterfill, CoinShares’ head of research.
He said the reversal likely reflected prior price weakness, a break below key technical levels and renewed accumulation by large Bitcoin holders.
“At a more anecdotal level, recent client discussions have been almost entirely focused on identifying entry points rather than reducing exposure to the asset class,” he added.
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