Digital asset investment products registered positive inflows last week, although profits were mostly concentrated in Bitcoin (BTC) funds, indicating a more cautious approach to the distribution of cryptocurrencies by institutional investors.

- Advertisement -

In the week ending Saturday, Bitcoin investment products posted a cumulative inflow of $126 million, according to the latest fund flow report from CoinShares. Since the beginning of the year, Bitcoin investment funds have quietly added $506 million in net inflows.

- Advertisement -

It appears that investors are investing in bitcoin through ether (ETH) and other altcoins. Ethereum funds saw a $32 million outflow, marking a ninth consecutive week of declines. The outflow of funds from Ethereum investment products this year amounted to $357.4 million.

- Advertisement -

Meanwhile, investment in multi-asset crypto funds surged $4.3 million last week, bringing the year-to-date total to $201.3 million.

Grayscale remains the largest digital asset manager with over $27 billion under management. Approximately 99% of all Grayscale assets are dedicated to the Grayscale Bitcoin Trust, also known as GBTC.

BTC price approaches $32k as analyst warns of ‘boring’ summer for bitcoin

Unable to escape the gravitational pull of traditional financial markets, crypto assets have been in a protracted downtrend for most of 2022. The price of BTC has experienced nine consecutive weekly declines — the longest in history — as investor sentiment entered a prolonged period of “extreme fear.” in the Bitcoin Fear and Greed Index.

June 6, last week and last month: The Bitcoin Fear and Greed Index was in extreme fear territory.

Bitcoin narrowly avoided falling for the tenth straight week, closing on Sunday at $29,900, just $450 higher than the previous week.

However, there are some positive signs that institutional investors believe the fall. In addition to the CoinShares report, a Canadian Bitcoin ETF managed by Purpose Investments raised thousands of BTC last month. By May 13th, the Purpose Bitcoin ETF registered the highest ever supply of bitcoin at 41,600 BTC.