Digital assets manager CoinShares says institutional crypto products saw their biggest surge of inflows in two years.
In its latest Digital Asset Fund Flows report, CoinShares finds that institutional investors are continuing to invest heavily in digital asset investment products for the ninth week in a row.
“Digital asset investment products saw inflows totaling US $34 6million last week, the largest weekly inflows in this 9 consecutive week run.”
According to CoinShares, the inflows were likely spurred by the anticipation of the launch of a spot-based exchange-traded fund (ETF) for crypto, presumably starting with Bitcoin (BTC).
“This run, spurred by anticipation of a spot-based ETF launch in the US, is the largest since the bull market in late-2021.”
As usual, BTC took the king’s share of the inflows at $312 million. According to CoinShares, a high percentage of the BTC trading volumes were exchange-traded products (ETPs).
“ETP volumes as a percentage of total spot Bitcoin volumes remain well above average, representing 18% last week, highlighting the continued increased use of ETPs to gain exposure to the asset class.”
Altcoins also fared well last week. Ethereum (ETH) raked in $34 million in inflows last week, while ETH-rival Solana (SOL) brought in $3.5 million. Cardano (ADA), XRP, Polkadot (DOT) and Chainlink (LINK) saw $0.6 million, $0.2 million, $0.8 million and $0.6 million in inflows respectively.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/PHOTOCREO Michal Bednarek
The post Institutions Expecting ETF Spark Largest Capital Inflows to Crypto Since Late 2021: CoinShares appeared first on The Daily Hodl.
