Traders started to reduce investments in cryptocurrencies due to stagnation in Bitcoin.
According to CoinShares, inflows to the market fell to their lowest level last week, following the main cryptocurrency. As a result, Ethereum and other virtual currencies retreated from record highs.
To put it more precisely, inflows fell to $ 108 million compared to the previous week, when inflows were about $ 400 million.
Bitcoin-focused products accounted for 90%, while minor inflows are in Ethereum and Polkadot investment products.
And despite a quiet week, this quarter's net flows have already matched the total net flows last quarter.
CoinShares also reported that investment products currently account for 7% of Bitcoin trading volume in 2021, up from 4% in 2020.
ETPs have also doubled to $ 43.9 billion in February, with most of the assets held in Grayscale.
And last week, CoinShares launched a physically secured Ethereum ETP on SIX, under the ticker 'ETHE'.
Then, on Tuesday, shares spurred in relation to a Bitcoin rally. Riot Blockchain soared by 27%, while Marathon Digital Holdings jumped by 22%.
Other companies have also used the power of Bitcoin to raise hundreds of millions of dollars in funding.
For instance, Silvergate Capital Corp launched a $ 300 million program to sell shares, less than two months after it raised capital. MicroStrategy Inc, meanwhile, issued promissory notes to fund more Bitcoin purchases.
