Institutional Crypto Investment Vehicles See $225 Million Inflows Last Week
Last week, institutional crypto investment vehicles experienced nearly $225 million in inflows, as reported by CoinShares. Despite the positive inflows, there has been a significant drop in the past two weeks, possibly due to uncertainties surrounding US monetary policy.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares stated, “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.”
The US led in inflows internationally with $175 million, followed by Germany, Switzerland, Canada, and Australia with $47.8 million, $15.7 million, $9.8 million, and $6.5 million respectively. On the flip side, minor outflows were observed in Brazil ($9.2 million) and Hong Kong ($14.6 million), marking an end to record inflows in the latter.
Ethereum (ETH), the leading smart contract platform, continued its seven-week inflow streak, totaling $1.5 billion, with $296 million in inflows last week. This streak marks the strongest inflow run for ETH products since the US Election. Conversely, Bitcoin (BTC) saw its second consecutive week of outflows, resulting in losses of $56.5 million.
Altcoins remained subdued, with Sui attracting minor inflows of $1.1 million, while XRP saw a third week of outflows totaling $6.6 million.
Stay Updated
Follow us on X, Facebook, and Telegram for the latest updates in the crypto world.
Don’t miss out on any news – subscribe to get email alerts delivered directly to your inbox. Stay informed about price actions and surf The Daily Hodl mix for a comprehensive overview of the market.
Featured Image: Shutterstock/Antonov Serg/Sol Invictus