Bitcoin continues to shine with 98% of inflows into crypto investment products

On April 11, European cryptocurrency concern steadfast CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that integer plus concern products experienced affirmative sentiment with inflows totaling $57 cardinal past week, bringing inflows backmost to a nett affirmative presumption year-to-date. However, contempt this, "volumes were debased astatine $970 cardinal for the week," and the planetary Bitcoin (BTC) speech marketplace besides saw debased volumes, which "were conscionable 25% of the year-to-date mean astatine $18 cardinal for the week."

According to the report, inflows were chiefly driven by investors successful the U.S., with $27 cardinal of inflows. Germany, Switzerland, and Canada besides saw affirmative sentiment, with inflows totaling $17 million, $13 million, and $2.2 million, respectively, indicating a broad-based summation successful assurance towards integer assets.

Investors chiefly focused connected Bitcoin, with BTC receiving $56 cardinal of inflows, which accounted for 98% of each inflows. Meanwhile, short-bitcoin suffered insignificant outflows totaling $0.6 million. In contrast, altcoins, including Uniswap (UNI), Polkadot (DOT), and Polygon (MATIC), saw insignificant inflows of little than $1 cardinal each.

The study besides noted that contempt the Ethereum network's Shapella upgrade scheduled for April 12, Ether (ETH) inflows were comparatively insignificant astatine $600,000, suggesting that possibly investors are cautious astir investing successful Ethereum until they are much assured astir the interaction of the upgrade. Additionally, blockchain equities saw insignificant inflows totaling $2.1 million, indicating a comparatively quiescent week for this marketplace segment.

Related: Ethereum terms retests cardinal enactment level that preceded 60% gains successful June 2022

Overall, the affirmative sentiment successful the integer plus marketplace past week, contempt debased volumes, indicates that investors stay bullish connected the prospects of cryptocurrency. As antecedently reported by Cointelegraph, Bitcoin has reclaimed $30,000, its highest terms since June 2022. In the past 30 days, BTC recorded gains of astir 46%, rising to its highest level successful 10 months connected April 11.

Bitcoin terms chart. Source: CoinGecko

On April 5, American concern quality firm MicroStrategy added different 1,045 Bitcoin to its increasing crypto treasury, for astir $29.3 cardinal astatine an mean terms of $28,016 per BTC -  MicroStrategy enforcement president Michael Saylor announced successful a tweet. Saylor has been a salient Bitcoin proponent, urging businesses to incorporated the starring cryptocurrency into their strategical plus allocation. He has consistently emphasized that Bitcoin is the astir dependable and unafraid store of worth disposable successful the existent market, and presents a distinctive avenue for enterprises to safeguard their assets against inflation.