CoinShares, a digital assets manager, has revealed that institutional crypto products experienced significant inflows last week, despite the weakness in prices. According to CoinShares’ latest report on Digital Asset Fund Flows, digital asset investment products recorded $441 million in inflows during the week. The recent decline in prices, triggered by Mt. Gox and the German Government selling pressure, was viewed as a buying opportunity. Exchange Traded Products (ETPs) saw relatively low volumes of $7.9 billion, which is in line with the usual seasonal pattern of lower volumes in the summer months.
In terms of geographical distribution, the United States led the inflows with $384 million. Hong Kong, Switzerland, and Canada also saw inflows of $32 million, $24 million, and $12 million, respectively. Germany, however, was an outlier, experiencing outflows of $23 million.
Bitcoin (BTC) accounted for $398 million of the inflows, representing only 90% of the total inflows. Investors chose to invest in a wider range of altcoins. Solana (SOL) was the leading altcoin with $16.3 million in inflows. Multi-asset crypto investment vehicles attracted $12.8 million in inflows, while Ethereum (ETH) saw $10.2 million. Litecoin (LTC), XRP, Polkadot (DOT), and Cardano (ADA) also attracted inflows of $0.9 million, $0.4 million, $0.2 million, and $0.1 million, respectively.
CoinShares emphasized the importance of staying updated by subscribing to get email alerts. The company also advised investors to conduct thorough research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets.
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