Investors added to their positions during last week’s price dip, CoinShares said in their latest report.

While the market was jittery following the collapse of Terra’s LUNA and UST, bitcoin funds saw weekly inflows of around $300 million.

The price drop was beneficial for investors, who add $299 million to Bitcoin (BTC) funds after buying into the decline. According to CoinShares’ Digital Asset Fund Flows Weekly Report.

Bitcoin was the primary benefactor, with inflows totaling US$299m last week, suggesting investors were flocking to the relative safety of the largest digital asset. Short-Bitcoin saw minor inflows totaling US$0.7m, a slow-down from previous weeks.”

This is the second-highest ever weekly inflow into Bitcoin funds, following last week’s $305 million. The inflows come despite Bitcoin’s price dropping below $50,000 on some exchanges.

CoinShares notes that the inflows were driven by three large institutional investors, each adding over $100 million to their Bitcoin funds.

The report also notes that Bitcoin’s dominance of the cryptocurrency market has risen to 62.7%, its highest level since March 2018.

This is due to the sell-off in altcoins, which have seen their market capitalizations decline; by around $60 billion over the past week.

Over the week, European investors sent out $38 million in outflows, with sentiment being “extremely divided.”

In total, inflows into crypto investment products totaled $274 million over the last week.

Bitcoin’s price has been volatile in recent weeks, falling below $10,000 earlier this month before climbing back above $11,000.

At the time of writing, Bitcoin is trading at around $11,300, up 1.5 Bitcoin. Bitcoin’s price has fallen by around 20% over the past week, though it is still up by nearly 60% since the start of the year.

The data from CoinShares comes as Bitcoin’s price dipped below $50,000 for the first time in two weeks.

The sell-off was sparked by some factors, including Tesla’s announced plans to sell $1.5 billion worth of Bitcoin; as well as worries about new regulations in China.

Still, Bitcoin has been on a tear this year and is up more than 80% since January 1. Investors seem to be undeterred by the recent price dip, with inflows into Bitcoin products totaling $300 million over the past week. According to CoinShares.

Even though Bitcoin attracted more money, Ethereum recorded outflows of $27 million.

Year-to-date, Ethereum solutions have resulted in outflows of $236 million, or 2.6% of total assets under management (AUM). The year’s first week witnessed inflows into Bitcoin solutions of $463 million.

Terra’s AUM fell 99%, although some investors still managed to add to positions by $0.043 million. Bitcoin SV’s solutions had inflows of $0.021 million, and Bitcoin Cash –outflows of $0.022 million.

CoinShares’ data also shows that institutional investors were buying Bitcoin during the two-day price decline.


Bitcoin is up 3.6% in the last 24 hours, trading at $30,750 as of this writing, according to CoinGecko. Ethereum’s ETH, on the other hand, is up 5.4%, trading at $2,120.

As Bitcoinist reports, Bitcoin’s price is still well above the $29,000 “support level” that some were calling a bottom following the weekend decline.

The overall cryptocurrency market capitalization is presently $1.07 trillion, up from $1.02 trillion yesterday. BTC’s dominance over the total crypto market has increased slightly to 69%.

For the institutional investors to pump such money into Bitcoin, is an indication of their believe that the cryptocurrency; will rebound in a very big way.

The case for cryptos especially Bitcoin is always a very interesting one. Which side of the divide are you? It will be nice to know your thoughts.

James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.