Investments in cryptocurrency funds continued last week. Thus, the flow of money into funds remained positive for 8 consecutive weeks. The total amount invested last week was 176 million dollars.

Of the $176 million flow, the largest share was, as always, Bitcoin funds. Bitcoin was followed by Solana, not Ethereum this time. While $155 million was invested in Bitcoin investment products, Solana, which ranked second, received $13.6 million. Ethereum and Avalanche funds received $3.3 million and $1.8 million respectively. Uniswap and Polygon also received $550,000 and $860,000, respectively.

According to a report by asset management company CoinShares, the net amount invested in funds totaled $1.32 billion so far in 2023. What was remarkable was that the share of trading volumes of investment products in total crypto volumes continued to increase. In this sense, while the long-term historical average is 3.4 percent, it is currently at 11 percent. CoinShares emphasizes that 11 percent is well above the bull market average in 2020 and 2021. The fact that this rate is considerably higher than in the past shows the increased interest of institutional investors.

The report stated that the positive course of investments for 8 consecutive weeks was based on optimism that the spot Bitcoin ETF in the US would be approved soon.