Digital asset manager CoinShares reports that institutional investment in crypto products has reached unprecedented levels this year.
Year-to-Date Inflows Exceed $13.8 Billion
In the latest Digital Asset Fund Flows report, CoinShares reveals that digital asset investment products have seen inflows of $646 million last week. This brings the year-to-date inflows to a staggering $13.8 billion, far surpassing the $10.6 billion recorded in 2021.
International Sentiment Divided
International sentiment towards crypto remains mixed, with the US, Brazil, Hong Kong, and Germany experiencing inflows, while Switzerland and Canada witnessed outflows.
Bitcoin Dominates Inflows
Bitcoin (BTC) continues to be the most popular choice for institutional investors, receiving $663 million in inflows.
Ethereum Sees Outflows
In contrast, Ethereum (ETH) investment products have experienced outflows for the fourth consecutive week, totaling $22.5 million.
Litecoin, Solana, and Filecoin Gain Traction
Litecoin (LTC), Solana (SOL), and Filecoin (FIL) have enjoyed inflows of $4.4 million, $4 million, and $1.4 million, respectively.
ETF Hype Subsides
CoinShares notes that weekly flows have declined since the peak of Bitcoin exchange-traded fund (ETF) hype in March, suggesting that the initial excitement surrounding ETFs may be waning.
