Crypto market is turning around? Last week, $441 million in funds flowed in

Source: Blockchain Knight

While the crypto asset investment space has seen a large outflow of funds in recent weeks, the opposite is now happening, with total inflows reaching $441 million last week alone.

According to James Butterfill, head of research at CoinShares, Despite recent market conditions, the inflows recorded over the past week suggest that many may view the recent decline as a "buying opportunity" for investment rather than a signal to retreat.

This week, funds to buy BTC have been widely inflowing, and other crypto assets such as ETH and SOL have also received a lot of attention, with BTC still leading the way with $384 million. However, this also shows that BTC is no longer as almost completely dominant as it once was.

Solana's performance in the inflows was particularly prominent, attracting $16 million, bringing the inflows so far this year to $57 million, according to the CoinShares report. From a fund flow perspective, it is the best performing crypto asset.

Ethereum also saw a favorable correction, with an inflow of $10 million, although it was the only major Crypto asset that still saw net outflows so far this year.

Meanwhile, major investment firms such as ArkInvest, Fidelity, and BlackRock have all noted similar inflow trends.

In the United States, the market was particularly strong, with BTC receiving $384 million from local funds. However, not every region reflected this optimism.

German funds saw a net outflow of $23 million, according to Butterfill, which may have been influenced by the German government's recent asset sales.The broader market remains relatively bearish, with several major Crypto assets falling sharply last week.

BTC fell to a low of $53,000 on Friday, its first drop since February. Despite this, BTC, ETH, and SOL have recovered slightly over the past 24 hours.

BTC rose slightly by 0.5% and returned to the threshold of $57,000, while ETH rose by 2.2%, also returning to the key $3,000 mark. Similarly, SOL followed closely behind these major Crypto assets with a 2.4% increase.

VanEck, one of the world's largest asset management companies and issuer of BTC ETF, is planning to launch an ETF based on Solana.

VanEck recently filed an application with the U.S. Securities and Exchange Commission (SEC) for the first spot Solana ETF, marking a critical moment for Crypto assets.