Digital assets manager CoinShares says institutions resumed investing in crypto products last week after a five-week break.
In its latest Digital Asset Fund Flows report, CoinShares finds that digital asset investment products brought in $130 million in inflows last week after four weeks of outflows.
[adinserter block="1"]“Digital asset investment products saw inflows for the first time in five weeks totaling $130 million. ETP (exchange-traded product) volumes continue to subside, though, with $8 billion for the week compared to $17 billion average in April. These volumes highlight ETP investors are participating less in the crypto ecosystem at present, representing 22% of total volumes on global trusted exchanges relative to 31% last month.”
Regionally, the US led inflows with $135 million. While Switzerland and Hong Kong also saw crypto ETP inflows of $14 million and $19 million, Canada and Germany saw outflows of $20 million and $15 million.
“Hong Kong, after a prior week of record inflows, saw just US $19 million inflows, suggesting the majority of the first-week post-Bitcoin ETF launches were seed capital.”
Bitcoin (BTC) ETPs, per usual, led crypto products with $144 million in inflows. Solana (SOL), Polkadot (DOT), XRP and Litecoin (LTC) also enjoyed inflows of $5.9 million, $1.2 million, $0.6 million and $0.1 million, respectively, Ethereum (ETH) products suffered $14.4 million in outflows.
“Low interaction by the US regulators with ETF (exchange-traded fund) issuer applications for a spot Ethereum ETF have increased speculation that the ETF approval is not imminent, this has been reflected in outflows which totaled $14 million last week.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/swatchandsoda/Sensvector/David Sandron/WindAwake
