Crypto Funds See $441M Inflows as Mt. Gox Bitcoin Pressure Eases

According to the latest report from CoinShares, the crypto sector has seen a $441 million inflow of capital despite the bearish sentiment. The inflow is despite the selling pressure from Mt. Gox and the German government. 

Key points:

• Bitcoin attracted $398 million in inflows, representing 90% of total investments.
• Solana gained major investor interest.
• Regional inflows were led by the US, with Hong Kong, Switzerland, and Canada also showing strong participation.
• Blockchain equities continue to face headwinds, experiencing further outflows.

This surge in investment comes despite the volatility triggered by the movement of funds from Mt. Gox and the German government’s Bitcoin sales.

Also check out: Golem Moves 36,000 Ethereum To Binance And Coinbase Amidst Market Uncertainty

Crypto investors see the dip as a buying opportunity

CoinShares mentioned in its report that investors are seeing the current price dip as an attractive entry point.

Bitcoin remained the dominant choice for investors and had $398 million in inflows. However, the report shows that it accounted for a lower-than-usual 90% of total investments.  

Solana enjoyed $16 million in inflows last week. This recent interest has propelled Solana’s year-to-date inflows to $57 million.

Ethereum also showed signs of a potential sentiment shift. The report shows that ETH enjoyed $10 million in inflows.

From a regional perspective, the United States led the charge with $384 million in inflows. Hong Kong, Switzerland, and Canada also demonstrated major interest, contributing $32 million, $24 million, and $12 million, respectively.

Notably, Germany bucked the trend. The country has $23 million in outflows, which could be mainly due to its government’s recent Bitcoin sales.

Despite the overall positive sentiment in the crypto investment product sector, blockchain equities continue to face challenges. The category saw an additional $8 million in outflows last week. This brings the year-to-date outflows to $556 million.