Crypto funds post inflows for fourth straight week, CoinShares says

The recent rise in cryptocurrency prices continued to bolster sentiment as digital asset investment products booked their fourth consecutive week of inflows, according to CoinShares ( OTCQX:CNSRF ) data published Monday. For the week ended April 14, inflows totaled $114M, with bitcoin ( BTC-USD )-related products accounting for 91% of the total as the token, which started the week exceeding the $30K mark for the first time since last June, continued to serve as the sole focus for investors. That brought the four-week run of inflows to $345M, CoinShares noted, contending "we believe this is a flight to safety by investors fearful of the ongoing traditional finance challenges." Even so, short-bitcoin ( BTC-USD ) products saw inflows of $14.6M last week, signaling a divide in investors' opinion. And even after ethereum's ( ETH-USD ) successful Shapella software upgrade, in a move that helped buoy the price to an eight-month high , only $0.3M of inflows were experienced, the report said . See why SA contributors Logan Kane and The Digital Trend each laid out a Hold thesis for bitcoin.