Digital asset management firm CoinShares said institutional investors poured nearly $1 billion into crypto products last week.
In its latest digital asset fund flow report, CoinShares said institutional inflows into crypto investment products surged last week, reaching a net $901 million.
“Digital asset investment products saw inflows of US$901 million, making this month's inflows accounting for 12% of total assets under management, making it the fourth largest inflow month on record.” Total inflows this year are now: This amounted to US$27 billion, almost three times the record inflow of US$10.5 billion in 2021. ”
CoinShares notes that there is a clear correlation between inflows and Republican favorability in public opinion polls, and speculates that the increase in inflows is due to US political hype.
The United States led the region with $906 million in inflows. Germany and Switzerland also brought in inflows of $14.7 million and $9.2 million. Meanwhile, $10.1 million, $3.6 million, and $2.7 million were outflows from Canada, Brazil, and Hong Kong, respectively.
As usual, Bitcoin (BTC) products accounted for the bulk of the $920 million inflow. However, the smart contract platforms Ethereum (ETH) and Solana (SOL) products suffered outflows of $35 million and $10.8 million, respectively.
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