Institutions Pour $742,000,000 Mostly Into Bitcoin in Largest Run of Inflows Since 2021: CoinShares
Digital assets manager CoinShares says institutional investors are increasing their conviction in Bitcoin (BTC) and crypto more than they have since 2021, with a massive allocation in recent weeks.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional investors poured $137 million into the crypto markets last week, continuing a four-week run of inflows that has seen $742 million poured into the markets.
“Digital asset investment products saw US$137m of inflows last week. Following a few late updates to prior weekly data, inflows for the last 4 weeks now total US$742m, representing the largest run of inflows since the final quarter of 2021. Trading volumes on investment products remain well above the year average of US$1.4bn, totaling US$2.3bn for last week. The volumes are currently making up a far greater proportion of total crypto volumes, comprising 11% last week compared to the 2% average.”
According to CoinShares, most of the inflows originated from North American investors, with $109 million coming from US investors alone.
Bitcoin, in step with its share of the market, took home most of the inflows.
“Bitcoin saw inflows totaling US$140m, comprising 99% of all inflows. While short Bitcoin investment products saw a 12th week of outflows of US$3.2m. A combination of recent price appreciation and outflows have seen short Bitcoin total assets under management fall from their April US$198m peak to just US$55m.”
While Litecoin (LTC), Solana (SOL), XRP, Cardano (ADA) and Polygon (MATIC) all enjoyed inflows of $0.5 million or less last week, Ethereum (ETH) suffered outflows of $1.6 million.
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The post Institutions Pour $742,000,000 Mostly Into Bitcoin in Largest Run of Inflows Since 2021: CoinShares appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
