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Institutions continue to flock to crypto investment products, surpassing $598M in weekly inflows

TL;DR

  • Institutions poured $598 million into crypto last week, marking the fourth week of inflows.
  • Bitcoin attracted the most investment, with Ethereum, Chainlink, and XRP also seeing inflows.
  • Despite regional variations, the U.S. led in inflows, while Solana faced outflows, possibly due to a network issue.

Institutional investment in crypto remains robust, with digital assets manager CoinShares reporting a fourth consecutive week of significant inflows. According to the latest Digital Asset Fund Flows report by CoinShares, institutional investors injected a staggering $598 million into crypto investment products over the past week alone, bringing the year-to-date inflows close to the $6 billion mark.

Strong inflows despite regional variances

Despite regional disparities, the United States emerged as the leader in inflows, with a notable $610 million influx. This comes even as Grayscale, a major player in the crypto investment space, faced substantial outflows totaling $436 million during the same period. 

In contrast, Brazil and Switzerland experienced minor inflows of $8.2 million and $2.1 million, respectively. However, Canada and Sweden witnessed outflows, with $18 million and $8 million exiting their respective markets.

Bitcoin (BTC) maintained its dominance in attracting investment, capturing the lion’s share of inflows at $570 million. Interestingly, short BTC products saw comparatively smaller inflows at $3.9 million. 

Despite Solana (SOL) experiencing $3 million in outflows, likely due to a recent network outage, Ethereum (ETH), Chainlink (LINK), and XRP saw substantial inflows. Ethereum garnered $17 million, while Chainlink and XRP received $1.8 million and $1.1 million, respectively.

Diversification trends and Altcoin inflows

Multi-asset crypto investment products diversify across multiple cryptocurrencies and saw $6.8 million in inflows over the past week. Litecoin (LTC) and Cardano (ADA) attracted $1 million and $0.4 million in investments, respectively. This underscores a growing trend among investors to explore alternative cryptocurrencies beyond the traditional favorites like Bitcoin.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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James Kinoti

A crypto enthusiast, James finds pleasure in sharing knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. The latest innovations in the crypto industry, crypto gaming, AI, blockchain technology, and other technologies are his preoccupation. His mission: be on track with transformative applications in various industries.

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