Ethereum sees 'dramatic' shift in institutional investor sentiment: fund inflows hit annual record: CoinShares - The Daily Hodl
digital asset manager #CoinShares announced that institutional investors have invested nearly $40 billion in cryptocurrency products this year.
In its latest report on fund flows into digital asset funds, CoinShares reported that net inflows into cryptocurrency investment products have surged, with annual flows reaching $37.3 billion last week, setting a new record.
Digital asset investment products recorded inflows totaling $270 million last week, marking an unusual bifurcation of flows between assets within the asset class. Despite initially high volumes following the launch of options trading on US ETFs, there was no corresponding increase in ETP volumes, with US$22 billion traded last week compared to US$34 billion the previous week. Total YTD inflows reached a record high of US$37.3 billion.
US, followed by Hong Kong and Germany with US$39 million and US$12.3 million.
Switzerland and Canada saw smaller outflows of US$26 million and US$10 million, respectively.
#BTC outflows totaled US$457 million after bitcoin (BTC) failed to reach a key psychological price level of US$100,000 last week. At the same time, #Ethereum (ETH) set a new record for yearly inflows.
In contrast, Ethereum saw inflows of $634 million, signaling a dramatic change in sentiment, with YTD inflows reaching $2.2 billion, breaking the record of $ 2 billion for 2021.
Read us at: Compass Investments