Institutional investors are riding the crypto industry’s record-breaking momentum and pouring billions into digital asset investment vehicles, reports crypto investment firm CoinShares.
According to the latest Digital Asset Fund Flows report, institutional investors coughed up $3.7 billion in crypto inflows last week alone.
[adinserter block="1"]“Digital asset investment products saw inflows of $3.7 billion last week, marking the 2nd largest weekly inflow on record. Notably, July 10th recorded the third-highest daily inflow ever. This also represents the 13th consecutive week of inflows, bringing the cumulative total to $21.8 billion and pushing year-to-date (YTD) inflows to $22.7 billion.
Assets under management (AuM) surged past the US $200 billion threshold for the first time, reaching a new record of $211 billion. ETP (exchange-traded product) trading volumes reached $29 billion, twice this year’s weekly average.”
The US led globally with $3.7 billion worth of inflows. Switzerland and Canada followed with $65.8 million and $17.1 million in inflows, respectively, while Germany suffered outflows to the tune of $86 million.
Top crypto asset by market cap Bitcoin (BTC), per usual, enjoyed the lion’s share of inflows at $2.7 billion.
“For the first time, this equals 54% of the total AuM held in gold ETPs. Short Bitcoin ETPs showed minimal activity.”
Ethereum (ETH) continued its 12-week run of inflows with $990 million last week. Meanwhile, XRP and Solana (SOL) also enjoyed large inflows of $104 million and $92.6 million, respectively.
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