Crypto funds register 6 weeks of exits as markets recover

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Crypto funds posted $ 21 million in net inflows last week as digital asset markets rallied, bringing total assets under management (AUM) to $ 57.3 billion, the highest since May, according to a new report.

The latest data reflects a reversal after six straight weeks of cash outflows, according to the report released Monday by digital asset manager CoinShares.

Solana’s SOL token-focused funds saw the largest inflow among all digital assets, at $ 7.1 million last week, according to the report. The token hit an all-time high of $ 82 on Saturday, according to Messari.

Related: Market Wrap: Bitcoin Stops Near $ 50,000 Before Options Expiration Date

Investors bought back $ 2.8 million from bitcoin-focused funds last week, the seventh straight week of exits, despite the cryptocurrency’s biggest rise in prices. The streak matched the streak of exits recorded in early 2018, the report noted. It was just before the ‘cryptocurrency winter’ when cryptocurrency prices fell and failed to return to all-time highs for more than two years.

Ethereum-focused crypto funds generated $ 3.2 million in entries last week.

Cardano’s ADA token-focused funds saw net inflows of $ 6.4 million, while Litecoin funds brought in $ 1.8 million and polkadot funds brought in $ 1.1 million.

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