Crypto Funds Recorded Their First Weekly Inflow Of Assets In 2023

The inflow of funds into cryptocurrency investment products from 7 to 13 January amounted to $9.2 million. The positive dynamics was formed for the first time in the last four weeks.

Trading volume remained at a relatively low level of $866 million. Analysts concluded that the recent rally in digital assets was not accompanied by support from institutional investors.

Thanks to the improving environment, assets under management rose by more than 13% to $25.47bn, the highest since October 2021.

Traditional bitcoin funds saw inflows of $10.1m, with $1.5m withdrawn from structures that allow shorts on the first cryptocurrency. Ethereum funds attracted $5.6 mln. Positive dynamics were recorded for the first time in the last nine weeks. Outflows from various altcoin-based products amounted to $3.2m. In the last seven weeks, this amount reached $16m. Investors have become "more discerning about what they invest in", experts stressed.