CoinShares Report
CoinShares, a digital assets manager, reports that institutional investors are pouring money into crypto exchange-traded products (ETPs). This surge in investment comes just weeks after the U.S. Securities and Exchange Commission (SEC) approved spot BTC exchange-traded funds (ETFs).
Crypto Investment Products See Massive Inflows
CoinShares’ latest Digital Asset Fund Flows report reveals that crypto investment products experienced significant inflows last week. Grayscale, a major player in the crypto investment space, saw a slowdown in outflows.
Total Inflows and Assets Under Management
Total inflows for digital asset investment products reached $708 million last week, bringing the year-to-date inflows to $1.6 billion. Total global assets under management now stand at $53 billion. Trading volumes in ETPs fell to $8.2 billion from the previous week’s $10.6 billion but remain well above the $1.5 billion weekly average in 2023.
US-Based ETFs See Strong Inflows
Recently issued US-based ETFs have enjoyed inflows of $1.9 billion over the past four weeks, with nearly $7.7 billion in inflows since their approval by the SEC last month. However, outflows from incumbent issuers have partially offset these gains, totaling $6 billion.
Bitcoin Products Dominate Inflows
BTC products saw the majority of the inflows, totaling $703 million, while Ethereum (ETH) products suffered losses of $6.4 million. ETH-rival Avalance (AVAX) lost $1.3 million in outflows, while Solana (SOL) products brought in $13 million worth of inflows.
