Institutional crypto investment vehicles enjoyed nearly $225 million in inflows last week, according to CoinShares.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that last week’s institutional crypto inflows, while positive, have fallen significantly in the last two weeks, perhaps due to uncertainty on US monetary policy.
[adinserter block="1"]“Digital asset investment products saw US$224m in inflows last week, extending this 7-week streak to US$11bn. However, there has been a noticeable deceleration amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the US Federal Reserve on inflation.”
Regionally, the US led internationally with $175 million in inflows. Germany, Switzerland, Canada and Australia followed with $47.8 million, $15.7 million, $9.8 million and $6.5 million in inflows, respectively.
“Minor outflows were seen in Brazil (US$9.2m) and Hong Kong (US$14.6m), with the latter marking an end to record inflows.”
Leading smart contract platform, Ethereum (ETH), has been on a seven-week inflow streak, totaling $1.5 billion, with $296 million in inflows last week. This marks the strongest inflow run for ETH products since the US Election.
Following last week’s trend, Bitcoin (BTC) saw its second consecutive week of outflows, resulting in $56.5 million in losses.
“Altcoins were subdued. Sui attracted minor inflows of US$1.1m, while XRP saw a third week of outflows totaling US$6.6m.”
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