Last week crypto funds drew around $75 million worth of investment. This has been the fourth straight week on net flow. This shows a continued assurance in bitcoin and other digital assets in the market as the price recuperated since January’s price drop.
Cryptocurrency investment funds have risen strongly in the last week. With ETH (Ether) breaking a continuous nine-week spell surges with a $21 million inflow as per the weekly data from CoinShare. In the 2nd week of December, Ethereum (ETH) had seen a minor outflow of $17 million. This was the first time following the 6 weeks of continuous inflow.
But despite that, the weekly outflow was expanded until the first week of February. The total outflow of the nine-week was $280 million. Last week, Ether’s total assets under management marked $13 billion.
Vikram Subburaj, CEO and Co-Founder of Co-Founder, talked with Financial Express Online and said, Ethereum has been holding strong despite high rectification in the wider crypto market. Ethereum is currently trading above $3,000. The net inflow and outflow data are quite promising considering the institutional investors are seeing high value in the growth of assets at these prices.
He also mentioned that, yes indeed this is a positive sign for a good future. But he also said to be cautious since there is a possibility of short-term corrections in the few weeks. He said this is possible because the investors respond according to news from the US federal and Ukraine.