Financial institutions poured $598 million into crypto investment products last week, marking the fourth consecutive week of inflows, according to digital asset management firm CoinShares.
In its latest digital asset fund flow report, CoinShares says year-to-date inflows into crypto investment products are approaching the $6 billion mark.
“Weekly inflows into digital asset investment products totaled USD 598 million, the fourth consecutive week of inflows. It accounted for 55% of record inflows.”
According to CoinShares, Grayscale had the highest inflow from the US at $610 million, despite suffering an outflow of $436 million over the same period.
“Brazil and Switzerland had small inflows of USD 8.2 million and USD 2.1 million, respectively, while Canada and Sweden had total outflows of USD 18 million and USD 8 million, respectively.”
As usual, Bitcoin (BTC) dominated with $570 million in inflows. Inflows into BTC short products were much lower at $3.9 million.
Solana (SOL) suffered a $3 million outflow believed to be related to a recent network outage, while Ethereum (ETH), Chainlink (LINK), and XRP saw inflows.
“Last week, Ethereum saw $17 million in inflows, while Chainlink and XRP saw $1.8 million and $1.1 million in inflows, respectively.”
A multi-asset crypto investment product that invests in multiple cryptocurrencies brought in $6.8 million in inflows last week. Litecoin (LTC) and Cardano (ADA) brought in $1 million and $400,000 in the same period.
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