A significant increase in cryptocurrency investment product inflows was observed in the week of March 23 to 29, totaling $862 million after a previous outflow of $942 million. Bitcoin assets under management rose from $88.2 billion to $97.9 billion as Bitcoin began recovering towards $70,000, according to analysts at CoinShares.
The majority of activity was focused on Bitcoin-related products, with inflows of $865 million nearly offsetting the record $904 million withdrawal in the previous week. Investors withdrew $2 million from structures enabling short positions on Bitcoin, while outflows in Ethereum funds decreased from $34.2 million to $18.9 million. Additionally, funds based on Solana, Polkadot, and Cardano saw investments of $6.1 million, $2.4 million, and $1 million respectively.
March marked the seventh consecutive month of positive returns for Bitcoin, with a 16.8% increase in the price of the primary cryptocurrency, despite reaching an all-time high of $73,000 on March 12 before dropping to $61,000 and then recovering to $70,000 by month-end. The price decline in mid-March coincided with fund withdrawals from ETFs and decreased prospects for Ethereum-based ETFs to launch soon.
