Institutional money showed an outflow from the crypto market for the first time in 4 weeks. BUT they continue to form diversified altcoin portfolios, for 4.5 months already. The total amount already exceeds $ 400 million. This is evidenced by the#Coinsharesdata for September 28 - October 4.
The outflow of capital from the crypto industry during this period amounted to -$147 million. At the same time, the situation was much more optimistic a week earlier - the inflow amounted to +$1.2 billion and was the largest in 10 weeks. According to analysts, “Better-than-expected economic data last week is the likely culprit” for the outflow.
There were almost total outflows from crypto ETF issuers, so the situation is not that bad. Only#BlackRockand the "Other" category showed an inflow. And at approximately similar levels. All the others, including market giants#Grayscale(not surprisingly),#Fidelityand #ArkInvest, were selling. Ark Invest - the most.
Other details on inflows/outflows by assets in general:
- Crypto products focused on#BTChave an outflow of -$159 million.
-#ETHcontinues to have a bad streak, the outflow of funds from it is stable and this time amounted to -$28.9 million. The Ethereum ETF narrative still does not work for the growth of the asset at all, having broken expectations. The only thing missing is some FUD to push even more paper hands out of #ETH.
- Crypto products focused on shorting#BTChave seen an inflow of +$2.8 million. Weeks earlier it was +$8.8 million and +$5.1 million. This is the fourth week that short positions have been accumulating, although the pace has slowed.
- The inflow on#SOLhas resumed, which had been going on throughout September. This time +5.3 million $, weeks earlier -4.8 million $ and +3.2 million $. Judging by everything, institutional investors remain optimistic about the asset. At least, so far the data for September-October suggests so.
- IMPORTANT again: there is a steady influx of institutional capital into Multi-asset (diversified altcoin portfolios), for 15 (!) weeks in a row. This time we are talking about $29.4 million, a week earlier - about $65 million.
$65 million was the second-largest amount in all past weeks. Previously: $54.2 million, +$22.8 million, +$3.4 million, +$6.4 million, +$20.3 million, +$18.3 million, +$18.1 million, +$8.7 million, +$16.7 million, +$17.2 million, +$12.8 million, +$17.9 million and +$98.3 million. As you can see, there are no outflows at all. Institutions are building diversified altcoin portfolios. If someone is no longer waiting for the alt season, they are waiting. The total amount for 15 weeks is $409.5 million.
Investments in other individual altcoins have traditionally shown lower dynamics. There are fewer people willing to bet on “one horse”:
-#LTCshowed an inflow of +0.9 million $.
-#XRPshowed an influx of +0.3 million $.
-#ADAshowed an inflow of +0.3 million $.
-#BNBshowed an outflow of -0.1 million $.
-#TRX- zero result of movements.
Geographically, the leader in outflows is the United States, by a wide margin. Then Germany and Hong Kong. Then Sweden. Canada and Switzerland showed significant inflows. More modest ones were Australia and Brazil.
