Seeking Alpha
2023-01-30 16:30:02

Crypto asset inflows largest in six months as market sentiment improves

Investors pumped $117M into digital asset investment products for the week ended Jan. 27, the largest weekly inflow since July 2022, CoinShares reported on Monday. Bitcoin ( BTC-USD ) dominated the flows as investors poured $116M into funds related to the token. That comes in the midst of bitcoin's nearly 40% year-to-date rally as market sentiment improves from 2022's rout, changing hands at $23.17K as of 11:29 a.m. ET. There were, however, inflows into short-bitcoin ( BTC-USD ) products, mounting to $4.4M for the week, "suggesting opinion remains polarised," CoinShares noted . Seeking Alpha contributor Serge d'Adesky viewed bitcoin's recent rally as a " bull trap that will catch FOMO investors to invest too early," and consequently flagged the token as a Sell. Overall, investment product volumes of $1.3B last week climbed 17% from the YTD average. In a recent CoinShares survey, investors expected ethereum ( ETH-USD ) to shine the most among cryptos, including bitcoin ( BTC-USD ).

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