Last week, institutions showed a net capital outflow from crypto assets of $30 million. This is evidenced by#Coinsharesdata for June 22-28.
The outflow has been going on for the third week in a row, but now it has noticeably slowed down. If weeks earlier the outflow from crypto funds amounted to -$584 million and -$600 million, then today it is already -$30 million.
Trading volume increased by 43% compared to the previous week and amounted to $6.2 billion, but still remains significantly below the weekly average for the year - $14.2 billion.
Specifically for spot Bitcoin ETFs (the main instrument of all), most providers saw a slight influx of funds; #Blackrock, #Fidelity,#ArkInvestwere in the top. But their successes were largely offset by#Grayscalesales of $153 million.
Details on inflows/outflows for assets as a whole:
- Crypto products focused on#BTCshowed, in the end, a net inflow of +$10 million (a week earlier -$630 million).
- Crypto products targeting#BTCshorts had an outflow of -$4.2 million. A week earlier there was an outflow of -$1.2 million. It still doesn't look like institutions are willing to bet heavily on#BTCgoing down. Moreover, for now it looks like they are waiting for the BTC price to rise.
- Crypto products focused on#ETHagain experienced a serious outflow, by as much as $60.7 million. A week earlier it was $58.3 million. Although before this, while awaiting approval of spot Ethereum ETFs, the asset showed the following dynamics: +$13.1 million, +$68.9 million, +$33.5 million and +$36 million. Coinshares emphasizes that over the past two weeks, the outflow of funds from funds on this asset amounted to $119 million, which made ETH the worst asset since the beginning of the year in terms of net outflows. Coinshares did not share their thoughts on the reasons for such outflows.
Coinshares notes that for the second week in a row, institutional money goes to Multi-asset. A week earlier +98.3 million $, now +17.9 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. Institutions do not want to take risks with any one altcoin, but understand the general trend and expect the overall growth of the sector.
Investments in individual altcoins are still modest:
-#SOLshowed +1.6 million $ (a week earlier +2.7 million $),
-#LTCshowed +1.4 million $ (a week earlier +1.3 million $),
-#LINKshowed +0.6 million $ (a week earlier +0.3 million $),
-#XRPshowed +0.3 million $ (a week earlier +0.7 million $).
There were no inflows into#ADAand #BNB.
Geographically the leader in US tributaries. Besides them, Brazil and Australia are in the black. But the key ones for sales are Germany, Hong Kong, Canada and Switzerland.