Crypto Funds Receive $160M Thanks to Problems with Traditional Finance Sector: Report

From March 18 to March 24, the inflow of funds into cryptocurrency investment products reached its highest since July 2022, amounting to $159.9 million, according to CoinShares analysts.

The increase in activity was linked to investors’ worries about the stability of the traditional financial sector. Bitcoin products were the main beneficiaries of the shift, with $128 million being invested, while $31 million was invested in shorting the first cryptocurrency.

Ethereum funds saw a $5.2 million outflow, yet asset baskets, Solana, Polygon, and XRP funds saw inflows of $1.6 million, $4.8 million, $1.9 million, and $1.2 million, respectively.

Over the previous five weeks, investors withdrew a total of $406 million from the cryptocurrency space, which is equivalent to 1.2% of funds under management.