Investment funds backed by bitcoin (BTC) and crypto once again saw inflows last week, as BTC extended a now 9-week-long losing streak. At the same time, some analysts are turning positive on the near-term outlook for bitcoin in particular, predicting a “bounce” to the upside in June.
According to data from the crypto research and investment firm CoinShares, regulated crypto-backed funds saw inflows of USD 87m last week, after seeing outflows of USD 141m the week before.
The inflows were by far the largest in funds backed by bitcoin, with USD 69m invested on a net basis over the week. Funds backed by ethereum (ETH), on the other hand, turned out to be the least popular among investors last week, with USD 11.6m flowing out.
The inflows last week pushed the year-to-date inflows to all crypto-backed funds to USD 0.52bn, which CoinShares said is “well below” the USD 5.9bn that was seen at the same time last year.
Still, the fact that year-to-date inflows remain on the positive side is “...
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