Digital assets manager CoinShares says institutions resumed investing in crypto products last week after a five-week break.
In its latest Digital Asset Fund Flows report, CoinShares finds that digital asset investment products brought in $130 million in inflows last week after four weeks of outflows.
“Digital asset investment products saw inflows for the first time in five weeks totaling $130 million. ETP (exchange-traded product) volumes continue to subside, though, with $8 billion for the week compared to $17 billion average in April. These volumes highlight ETP investors are participating less in the crypto ecosystem at present, representing 22% of total volumes on global trusted exchanges relative to 31% last month.”
Regionally, the US led inflows with $135 million. While Switzerland and Hong Kong also saw crypto ETP inflows of $14 million and $19 million, Canada and Germany saw outflows of $20 million and $15 million.
“Hong Kong, after a prior week of record inflows, saw just US $19 million inflows, suggesting the majority of the first-week post-Bitcoin ETF launches were seed capital.”
Bitcoin (BTC) ETPs, per usual, led crypto products with $144 million in inflows. Solana (SOL), Polkadot (DOT), XRP and Litecoin (LTC) also enjoyed inflows of $5.9 million, $1.2 million, $0.6 million and $0.1 million, respectively, Ethereum (ETH) products suffered $14.4 million in outflows.
“Low interaction by the US regulators with ETF (exchange-traded fund) issuer applications for a spot Ethereum ETF have increased speculation that the ETF approval is not imminent, this has been reflected in outflows which totaled $14 million last week.”
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The post Crypto ETPs See First Institutional Inflows in Five Weeks, With $130,000,000 Hitting Markets: CoinShares appeared first on The Daily Hodl.