A leading digital assets manager is finding that institutional investors are taking advantage of discounted crypto prices in light of the FTX-fueled market crash.
In its latest Digital Asset Fund Flows Weekly report, CoinShares says digital asset investment products had their highest inflows in 14 weeks.
[adinserter block="1"]“Digital asset investment products saw the largest inflows for 14 weeks totaling $42 million.
The inflows began later in the week on the back of extreme price weakness prompted by the FTX/Alameda collapse.”
Bitcoin (BTC) investment vehicles enjoyed the lion’s share of inflowing capital, gaining $19 million last week.
“Bitcoin was the primary focus with inflows totaling $19 million, the largest since early August this year. However, short-bitcoin investment products also saw inflows totaling $12.6 million.”
CoinShares observed inflows from all regions, especially the US, Brazil and Canada.
“Switzerland was the outlier, seeing minor outflows totaling $4.6 million, although it remains the country with by far the most inflows year-to-date.”
Ethereum (ETH) investment products saw $2.5 million in inflows last week while Solana (SOL) lost $1.1 million and Polygon (MATIC) took in $200,000. Multi-asset investment vehicles, or those investing in more than one digital asset, had their biggest week of inflows since June, according to CoinShares.
“Multi-asset saw its largest inflows since June 2022 of $8.4 million suggesting investors see it as a relative safe haven, while there was very little activity in altcoins.”
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