According to the latest report from CoinShares, the rebound seen in digital asset fund inflows spells good news for the industry as it indicates the market might be entering a bullish period.
The report, which analyzes weekly flows into digital asset funds, found that digital asset investment products saw a second consecutive week of inflows totaling $24 million.
Altcoin inflows keep the fort down while digital asset funds see major Bitcoin outflows
However, the significant improvement seen in digital asset fund inflows wasn’t driven by Bitcoin. CoinShares noted that the recovery has been predominantly due to improved sentiment in altcoins, despite Bitcoin still holding the largest part of the market.
Chart showing weekly crypto-asset flows in 2021 (Source: CoinShares)
Bitcoin saw outflows for 14 out of the past 16 weeks, with $650 million worth of the cryptocurrency being taken out of digital asset funds. However, despite 8 consecutive weeks of outflows, this still remains a relativ
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