Big investors continue to feel bullish on Bitcoin, with more cash flowing into funds from institutions, according to a new report. 

Last week, investors plugged over $114 million into big funds for the fourth consecutive week, digital assets firm CoinShares said in a Monday report. The cash flowed into big funds for accredited investors, such as Grayscale, 3iQ, and 21 Shares.

And by far, the main focus was Bitcoin, with $104 million invested, CoinShares said. It added that on the whole, there are “very low volumes in the Bitcoin market.”

CoinShares Head of Research James Butterfill noted that the improving sentiment for the asset class was down to “a flight to safety by investors fearful of the ongoing traditional finance challenges.”

Some investors are seeing Bitcoin as a “safe-haven” product following the collapse of a number of crypto- and tech-friendly banks in the U.S., such as Silicon Valley Bank and Signature Bank.

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Author: Mathew Di Salvo

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