CoinShares, a digital assets manager, says that institutional investors invested hundreds of millions of dollars in crypto investments last week despite market pressure to sell.
CoinShares’ latest Digital Asset Fund Flows Report states that institutional crypto investments products experienced net inflows last week of $308,000,000.
CoinShares reports that the Federal Open Market Committee’s (FOMC) hawkish release last week resulted to a loss of $17,7 billion in assets managed (AuM). This was due to crypto ETPs.
While these outflows might sound alarming they only represent 0.37% total AuM and are the 13th biggest single-day outflow in history. In mid-2022 the FOMC rate hike caused US$540m in outflows (2.3% AuM). )”
Bitcoin (BTC) led with 375 million dollars in new inflows. Ethereum (ETH), XRP and other products saw inflows of $51.3 and $8.8 millions respectively. Multi-asset products, or those who invest in a variety of cryptos, however, experienced a sharp increase in outflows.
The most dramatic outflows were seen in multi-asset products. These saw US$121m last week.
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The post Institutional Crypto Products Continue Hot Streak Inflow Despite Market Sale-Off: CoShares can be updated as new information becomes available.
