Cryptocurrency funds see biggest inflows in three months as risk appetite picks up
A report released Monday by word asset manager CoinShares showed $193 million in inflows into cryptocurrency investment products and funds last week, the highest level since early December last year.
The inflows were largely focused on bitcoin, with more than 50% of the money flowing into bitcoin-based investment products and funds, totaling around $9,800.
It is worth noting that Solana, a strong competitor to Ether, recorded $87 million in inflows last week, the largest single-week net inflow on record, compared to Ether's $10.2 million net inflow last week.
Last week's figures are in stark contrast to the previous week's data. The previous week, $47 million flowed out of cryptocurrency investment products and funds due to regulatory concerns.
As of writing, Bitcoin was at $47,500, Ether was at $3,390 and Solana was at $110.