Digital assets manager CoinShares says institutions poured $2.45 billion into crypto investment products last week, the largest weekly inflow ever recorded.
In its latest Digital Asset Fund Flows report, CoinShares says that crypto investment products’ assets under management (AUM) are now at their highest level since December 2021.
“Digital asset investment products saw record weekly inflows, totaling US$2.45 billion, with inflows for year to date now at an impressive US$5.2 billion. These inflows, coupled with recent positive price moves, have elevated the total assets under management (AuM) to US$67 billion, marking the highest level since December 2021.”
According to CoinShares, the vast majority of the inflows (99%) came from the United States, likely due to increased interest in crypto spot exchange-traded funds (ETFs).
“Simultaneously, outflows from incumbent players have decreased dramatically. Other regions, such as Germany and Switzerland, experienced modest inflows of US$13m and US$1m respectively, while Sweden saw outflows totaling US$26m.”
Per usual, BTC saw the lion’s share of inflows, taking in 99% of last week’s inflows at $2.43 billion. Ethereum (ETH), Avalanche (AVAX), Chainlink (LINK) and Polygon (MATIC) each saw inflows of $21 million, $1 million, $0.9 million and $0.9 million, respectively. Short-BTC positions saw nearly $6 million in inflows, while Solana (SOL) suffered $1.6 million in outflows.
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Author: Daily Hodl Staff
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