CoinShares, a digital assets manager, reported that institutional investors injected a whopping $2 billion into crypto products just last week. According to their latest Digital Asset Fund Flows report, investment in digital asset products hit $2 billion last week, matching the combined totals of the previous four weeks.
The report stated, “Inflows into digital asset investment products totaled US $2 billion, marking a five-week streak of inflows totaling US$4.3 billion. Trading volumes in ETPs surged to US$12.8 billion for the week, a 55% increase from the previous week. Surprisingly, inflows were observed across nearly all providers, with a decrease in outflows from established companies. This shift in sentiment is likely a response to weaker macroeconomic data in the US, prompting expectations of a rate cut in monetary policy.”
In terms of region, the United States attracted close to $2 billion in inflows alone, setting new records for the third-largest daily inflow on the first day of the week. Bitcoin (BTC), the largest cryptocurrency by market cap, dominated the inflows with $1.97 billion. On the flip side, short-bitcoin products experienced outflows for the third consecutive week, totaling US$5.3 million.
Among altcoins, Ethereum (ETH) led the pack with $69 million in inflows. XRP, Chainlink (LINK), Solana (SOL), and BNB also attracted inflows of $1.2 million, $0.7 million, $0.7 million, $0.7 million, and $0.2 million, respectively.
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