The cryptocurrency market is showing a steady recovery. According to the latest report from CoinShares analysts, investment products based on digital assets attracted an impressive $1.06 billion between March 9 and March 13. This positive trend has persisted for three consecutive weeks, signaling a return of confidence among major players.
Total Assets Under Management (AUM) increased by 9.4%, reaching the $140 billion mark. Experts note that even amid market volatility, investors are increasingly utilizing cryptocurrencies—specifically Bitcoin—as a “safe haven” asset.
Investment Geography: U.S. Dominance
The American market served as the primary growth driver. Investors from the United States accounted for 96% of all inflows. Performance in other regions is as follows:
- Hong Kong: +$23.1 million
- Canada: +$19.4 million
- Switzerland: +$10.4 million
- Germany: Recorded its first outflow of the year, totaling $17.1 million.
Bitcoin: Recovering from the Slump
Instruments focused on the primary cryptocurrency attracted $793 million. Over the past three weeks, cumulative inflows have reached $2.2 billion, allowing the market to offset a significant portion of the previous five-week decline (minus $3 billion).
Notably, interest in “bearish” strategies remains: funds allowing for short positions on Bitcoin gathered $8.1 million.
Ethereum and the Success of BlackRock’s New ETF
The number one altcoin is also seeing high demand—inflows into Ethereum-based funds totaled $315 million. A landmark event this week was the launch of a new product by financial giant BlackRock on the Nasdaq exchange.
Note: Trading for the iShares Staked Ethereum Trust (ETHB) commenced on March 12. This yield-bearing ETF managed to attract $45.65 million in just a few days.
This Week’s Outliers
Not all assets showed positive dynamics. Investment products based on XRP continue to lose capital for the second week in a row, with net outflows reaching $76 million.
