How are institutional funds behaving in the crypto market now? Capital inflows have been going on for the second week. We are talking primarily about crypto-ETFs and especially about #BTC. This is indicated by#CoinSharesdata for September 14-20.
The inflow of capital into the crypto industry at the end of the past week amounted to +321 million $. The week before, the inflow reached +436 million $ after a period of outflow in the amount of -1.2 billion $. There is growth, but so far these are not even close to the maximums of the year.
CoinShares believes that the current surge was caused by the US Federal Reserve's decision to cut interest rates by 0.5 percentage points.
The situation is unusual for crypto ETF issuers. As in the previous week, the key inflows were provided by investment giant#Fidelityand #ArkInvest. But#BlackRockshowed a small inflow, losing to all other competitors. A week earlier, we recall, they ended the week with a negative result.#Grayscaleis traditionally still the main seller.
Other details on inflows/outflows for assets in general:
- #BTC-focused crypto products see inflow of +$284M.
-#ETHcontinues its bad streak, the outflow of funds on it has been going on for the fifth week in a row and this time amounted to -$28.5 million. The Ethereum ETF narrative does not work for the growth of the asset and with the current market it seems that there is no such thing at all.
- Crypto products focused on shorting#BTChave an inflow of +5.1 million $. The week before it was -8.5 million $. There is a sense of uncertainty among players regarding the prospects of the main cryptocurrency.
-#SOLcontinues to see an inflow throughout September. This time +3.2 million $, the week before +3.8 million $. The maximum for September among weekly reports remains +3.6 million $. These are not the largest figures in recent months. BUT this is more than for other altcoins.
- IMPORTANT: There has been a steady influx of institutional capital into Multi-asset (diversified altcoin portfolios), for 13 weeks in a row. This time we are talking about as much as $54.2 million.
This is the second largest amount in all the past weeks. Previously: +$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. Institutionalists are betting on altcoins and waiting for the alt season. This does not mean that it will start right now and you need to open with 10 or more leverage. But it is worth holding spot positions and not getting depressed, listening to rumors about a market scam.
Investments in other individual altcoins have traditionally shown lower dynamics. There are fewer people willing to bet on “one horse”:
-#LTCshowed an inflow of +0.2 million $.
-#XRPshowed an influx of +0.1 million $.
-#ADAshowed an outflow of -0.1 million $.
-#BNBshowed an outflow of -0.7 million $.
Geographically, the leader in inflows is the USA, by a wide margin. Switzerland is in second place. Brazil has the lowest figures. Germany, Sweden, Canada, and Hong Kong showed outflows.
