Crypto funds see $644M inflows after five weeks

After five consecutive weeks of outflows, digital asset investment products saw a reversal last week, attracting $644 million in inflows, according to CoinShares' Digital Asset Fund Weekly Report.

The shift broke a 17-day streak of outflows, pushing total assets under management up by 6.3% from their March 10 low.

Bitcoin (CRYPTO:BTC) led the recovery, drawing $724 million in inflows and reversing a five-week outflow trend that had resulted in $5.4 billion in losses.

Meanwhile, short-Bitcoin products recorded outflows for the third consecutive week, with the latest at $7.1 million.

Altcoin performance remained mixed.

Ethereum saw the largest outflows, with $86 million exiting the market.

Other altcoins such as Sui (CRYPTO:SUI), Polkadot (CRYPTO:DOT), Tron (CRYPTO:TRX), and Algorand (CRYPTO:ALGO) also experienced outflows of $1.3 million, $1.3 million, $0.95 million, and $0.82 million, respectively.

On the other hand, XRP (CRYPTO:XRP) led altcoin inflows with $6.7 million, followed by Solana (CRYPTO:SOL) at $6.4 million.

Multi-asset products saw inflows of $3.2 million, while Polygon (CRYPTO:MATIC), Chainlink (CRYPTO:LINK), and Cardano (CRYPTO:ADA) recorded smaller gains of $0.4 million, $0.2 million, and $0.1 million, respectively.

The United States accounted for most of the inflows, with $632 million entering the market.

Switzerland, Germany, and Hong Kong also recorded positive trends, with inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Brazil and Australia saw smaller inflows of $1.1 million and $0.2 million.

Meanwhile, Sweden and Canada continued to see capital leaving the market, with outflows of $10.3 million and $9.1 million, respectively.

The report noted that the trend suggests a "decisive shift in sentiment toward the asset class" following weeks of investor caution.