Institutional Crypto Products See $2,000,000,000 in Inflows Amid ‘Dramatic’ Sentiment Shift: CoinShares
Crypto asset manager CoinShares says institutional digital asset investors have poured $5.5 billion into crypto over the past three weeks.
According to its latest Digital Asset Flows Weekly report, CoinShares says that crypto products enjoyed inflows of $2 billion last week alone.
“Digital asset investment products recorded a third consecutive week of inflows, totaling US$2bn last week. This brings total inflows over the past three weeks to US$5.5bn, marking a dramatic shift in sentiment following nine weeks of significant outflows.
Total inflows year-to-date (YTD) now total US$5.6bn while recent price moves have seen total assets under management (AuM) rise to US$156bn, the highest point since mid-February this year.”
Regionally speaking, the United States led the world with $1.9 billion in inflows. Canada, Switzerland and Germany provided $20 million, $34 million and $47 million of additional inflows, respectively.
Per usual, Bitcoin (BTC) enjoyed the lion’s share of inflows last week at $1.8 billion.
“Ethereum saw a second week of solid inflows totaling US$149m, bringing the last 2 weeks of inflows to US$336m. Competitor Solana saw minor inflows of US$6m.”
XRP products raked in $10.5 million in inflows, while Cardano (ADA) and SUI products brought in $1.2 million and $0.3 million, respectively. Multi-asset crypto investment vehicles, which invest in a basket of crypto assets, enjoyed $1.9 million in inflows.
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