- After six weeks of outflows, cryptocurrency investment products saw significant capital inflows.
- Bitcoin investment products received nearly $130 million in capital inflows last week.
- Capital inflow from digital asset investment products reached $160 million, the highest figure since July 2022.
Digital asset manager CoinShares reports that institutional crypto investment products finally ended their sixth consecutive week of outflows last week in a big way.
In its latest Weekly Digital Asset Fund Flow Report, CoinShares finds that institutional crypto investment products saw the largest inflows in over eight months.
“Digital asset investment products registered inflows totaling $160 million, the most since July 2022. A recovery after 6 weeks of outflows totaling $408 million. While the inflows came relatively late compared to the broader cryptocurrency market, we believe this is due to growing fears among investors for stability in the traditional financial sector.”
Bitcoin products received nearly $130 million in inflows last week. However, BTC short products, which aim to profit from Bitcoin’s price decline, also received $31 million.
“Bitcoin was the main beneficiary, with inflows of $128 million, and is recently named as a safe haven for the first time by some of our clients. Although not everyone shares this opinion, since bitcoin short also registered entries worth 31 million dollars, being the investment product with the most entries so far this year, but not the one that has had the best performance from the point of view of view of prices.
Ethereum products lost $5.2 million last week, marking the third straight week of ETH outflows.
