Cryptoinvestment products recorded inflows of US$130 million last week, with Solana (SOL) leading the way among institutional altcoin investments with an investment of US$5.9 million. According to management company CoinShares, this is the first weekly inflow into crypto funds in five weeks.
In particular, #bitcoin saw $144 million in inflows, recovering from a disappointing month. At the same time, bitcoin-based short exchange-traded products (ETPs) experienced outflows of US$5.1 million, bringing total outflows for the eight-week period to US$18 million.
Minor involvement by the U. S. regulator in reviewing #ETF issuers' applications for #ETFvsBTC ETFs has led to speculation that authorization may not be forthcoming. This sentiment was reflected in the US$14 million in fund outflows seen last week.
The US was dominated by inflows of US$135 million, the lowest weekly gray scale outflow since January, when it was US$171 million. Switzerland also saw inflows of US$14 million. In contrast, inflows in Hong Kong slowed to US$19 million from the previous week's record high, indicating that the initial surge following the launch of the bitcoin-ETF may have been mostly seed capital.
Canada and Germany followed with outflows of US$20 million and US$15 million respectively, bringing the total outflows this year to US$ 660 million.
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