From April 20 to 24, investments in digital asset-based products totaled $1.2 billion. This positive trend has continued for the fourth consecutive week, according to a report by CoinShares.
The total assets under management increased to $155 billion, marking the highest level since early February. The market recovery was driven by Bitcoin's price rising above $76,000.
The primary inflow was into Bitcoin, amounting to $933 million. Year-to-date, investments in the cryptocurrency have reached $4 billion. Additionally, $16.5 million flowed into products allowing short positions on digital gold.
Ethereum funds attracted $192 million, maintaining stable interest for the third week in a row.
The U.S. retained its lead in investment volume with $1.1 billion. In Germany, inflows doubled to $61.7 million. Investment funds in Switzerland and Canada also recorded capital inflows of $35.2 million and $15 million, respectively.
Analysts noted a sharp increase in interest in blockchain company stocks. Over three weeks, ETFs based on these stocks attracted $617 million.
Experts linked the current activity to rising demand from institutional investors, while market participants are exercising caution ahead of the U.S. Federal Reserve's interest rate decision on April 29.
Recall that from April 13 to 17, cryptocurrency-based investment products attracted $1.4 billion.