According to CoinShares, institutional crypto products saw significant inflows last week despite price weakness.
The latest Digital Asset Fund Flows report from CoinShares reveals that digital asset investment products attracted $441 million in inflows last week.
“Digital asset investment products received $441 million in inflows, with recent price weakness due to Mt. Gox and the German Government selling pressure being viewed as a buying opportunity.
Exchange Traded Products (ETPs) volumes remained low at $7.9 billion for the week, following the usual seasonal trend of lower volumes in the summer months.”
Inflows were led by the US region with $384 million, followed by Hong Kong, Switzerland, and Canada with inflows of $32 million, $24 million, and $12 million, respectively.
“Germany experienced outflows of $23 million, standing out from the trend.”
Bitcoin (BTC) attracted $398 million in inflows, but CoinShares noted that investors also diversified into other altcoins.
Notably, Solana (SOL) led altcoins with $16.3 million in inflows, followed by multi-asset crypto investment vehicles with $12.8 million and Ethereum (ETH) with $10.2 million. Litecoin (LTC), XRP, Polkadot (DOT), and Cardano (ADA) also saw inflows of $0.9 million, $0.4 million, $0.2 million, and $0.1 million, respectively.
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