While the crypto market was falling last week, institutions were buying, the influx amounted to $441 million. And they have once again developed an appetite for #SOL, so you should be careful with shorts on this coin. All this is evidenced by#Coinsharesdata for June 29 - July 5.
Analysts suggested that the price decline, caused by pressure from Mt.Gox and the German government, was seen by institutions as a buying opportunity. Bullish signal.
Based on the results of the previous week, we recall that the dynamics of institutional money in the crypto market was -$30 million. Then there was a slowdown in outflows, but now the initiative is on the side of buyers.
As always, the overall figure is primarily affected by the situation with spot Bitcoin ETFs. The main sellers among the issuers were again #Grayscale. But#Fidelity(especially) and#Bitwiseshowed great interest in buying.#BlackRockwas not even third in terms of net inflows, losing to #ArkInvest.
Details on inflows/outflows for assets as a whole:
- Crypto products focused on#BTCshowed, as a result, a net inflow of +$398 million (a week earlier +$10 million).
- Crypto products focused on#BTCshorts had an influx of $0.5 million. Weeks earlier - outflows of -$4.2 million and -$1.2 million. The events of the past week have added institutional interest in shorts. But for now it is small.
- The return of strong interest in#SOLis noteworthy. The inflow was +$16.3 million, a week earlier it was 10 times less, +$1.6 million.
- Inflows have resumed for #ETH-oriented crypto products. But +$10.2 million, the asset lost to #SOL. A week earlier, ETH had a serious outflow of as much as $60.7 million. This interrupted five weeks of large inflows ranging from +$13.1 million to +$68.9 million. Last week's inflows are still quite modest. Considering that Ethereum ETF spot trading may launch this week.
- For the third week in a row, institutional money goes to Multi-asset, +$12.8 million. Weeks earlier it was +$17.9 million and +$98.3 million. Multi-asset, let us remind you, is an investment in funds or products that contain several different cryptocurrencies. The purpose of such products is diversification. With the general expectation of institutions that altcoins will grow.
Investments in individual altcoins are again very modest:
-#LTCshowed +0.9 million $ (a week earlier +1.4 million $),
-#LINKshowed +0.6 million $ (a week earlier +0.6 million $),
-#XRPshowed +0.4 million $ (a week earlier +0.3 million $).
-#DOTshowed +0.2 million $ (not a week earlier).
-#ADAshowed +0.1 million $ (not a week earlier).
There were no inflows into #BNB.
Geographically, the leader in inflows is the United States by a wide margin. Overall, Hong Kong (second place) and Switzerland were also major buyers. Canada, Brazil, and Australia bought less. The key sales are Germany (of course) and Sweden.
