Cryptocurrency investment products experienced a significant turnaround last week, recording inflows of $644 million, according to a CoinShares report released on Monday. This marks a reversal from five consecutive weeks of outflows driven by geopolitical and economic uncertainties. Bitcoin exchange-traded funds (ETFs) spearheaded the recovery, attracting $724 million, followed by Solana ($6.4 million), Polygon ($400,000), and Chainlink ($200,000).
The report highlighted a decisive shift in investor sentiment towards the asset class, with inflows recorded every day last week. Total assets under management for crypto investment products rose 6.3% from their low point on March 10. Notably, Ethereum saw the heaviest losses with $86 million in outflows, while altcoins like Sui, Polkadot, Tron, and Algorand also experienced fund exits.
The majority of inflows originated from the U.S. ($632 million), with Switzerland ($15.9 million), Germany ($13.9 million), and Hong Kong ($1.2 million) also contributing.