Digital assets manager CoinShares says that institutional crypto products raked in major inflows last week despite price weakness.
In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products enjoyed $441 million in inflows last week.
“Digital asset investment products saw inflows totaling US$441m, with recent price weakness prompted by Mt Gox and the German Government selling pressure likely being seen as a buying opportunity.
Volumes in Exchange Traded Products (ETPs) remained relatively low at US$7.9 billion for the week, reflecting the typical seasonal pattern of lower volumes in the summer months.”
The US region led inflows at $384 million. Hong Kong, Switzerland and Canada brought in inflows of $32 million, $24 million and $12 million, respectively.
“Germany being an outlier, seeing US$23m outflows.”
Bitcoin (BTC) brought in $398 million in inflows but, according to CoinShares, “unusually represented just 90% of total inflows as investors chose to invest across a much broader set of altcoins.”
Solana (SOL), for instance, led all altcoins with $16.3 million in inflows. Multi-asset crypto investment vehicles enjoyed $12.8 million in inflows while Ethereum (ETH) saw $10.2 million. Litecoin (LTC), XRP, Polkadot (DOT) and Cardano (ADA) also brought in inflows of $0.9 million, $0.4 million, $0.2 million and $0.1 million, respectively.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, 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 losses 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/sparkzen
The post Institutions See Crypto Dip As Opportunity, Pour $441,000,000 Into ETPs: CoinShares appeared first on The Daily Hodl.
