Institutional investments are pouring into the crypto market at a faster rate than retail investments, with data indicating a rally in bitcoin. Digital asset investment products have seen inflows of $1.2 billion, marking the fourth consecutive week of gains, according to CoinShares data. The total assets under management for crypto funds have risen to $155 billion, with bitcoin alone attracting $933 million and bringing the year-to-date total to $4 billion.
Meanwhile, ether has seen inflows of $192 million for the third consecutive week. Blockchain equity ETFs are also gaining traction, with inflows of $617 million over the past three weeks. This surge in demand suggests that investors who are unable or unwilling to hold bitcoin directly are turning to equity wrappers in the sector. Bitcoin's price has reached $79,399, its highest level since January 31, before dropping back to $77,705.
The upcoming week will be crucial in determining whether institutional flows can absorb the selling pressure and propel bitcoin above $80,000. The earnings reports from major tech companies, including Alphabet, Microsoft, Amazon, Meta, and Apple, will also play a significant role in shaping the market's direction.