Digital assets manager CoinShares says institutions are pouring money into crypto exchange-traded products (ETPs) to the tune of $708 million weeks after the U.S. Securities and Exchange Commission (SEC) approved spot BTC exchange-traded funds (ETFs).
In its latest Digital Asset Fund Flows report, CoinShares finds that crypto investment products saw massive inflows last week as Grayscale outflows slowed down a bit.
“Digital asset investment products saw large inflows totaling $708 million last week, bringing year-to-date inflows to US$1.6bn and total global assets under management to $53 billion.
Trading volumes in ETPs fell to $8.2 billion compared to the prior week total of $10.6 billion, although remain well above the $1.5 billion week average in 2023.”
Recently issued US-based ETFs enjoyed inflows of $1.9 billion over the last four weeks, according to the data. Such ETFs have seen nearly $7.7 billion in inflows since their approval by the SEC last month.
“This has been offset by outflows from incumbent issuers, which total $6 billion, but data highlights a significant reduction in momentum of these outflows in recent weeks.”
BTC products saw the overwhelming majority of the inflows at $703 million, while Ethereum (ETH) products suffered $6.4 million in losses. ETH-rival Avalance (AVAX) lost $1.3 million of outflows, while Solana (SOL) products brought in $13 million worth of inflows.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Owlie Productions/Natalia Siiatovskaia