Digital assets manager CoinShares says that institutional crypto investors poured hundreds of millions in capital from digital asset products last week.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $436 million following weeks of outflows adding up to just north of $1 billion.
“We believe the surge in inflows towards the end of the week was driven by a significant shift in market expectations for a potential 50 basis point interest rate cut on September 18th, following comments from former NY FED President Bill Dudley. Trading volumes in ETFs were flat at US$8bn for the week, much lower than the average US$14.2bn this year so far.”
The US led inflows regionally with $416 million while its North American neighbor Canada saw $18 million in outflows. Additionally, Switzerland and Germany provided $27 million and $10.6 million in inflows.
The leading crypto by market cap, Bitcoin (BTC), was the primary source of investor focus, as per usual. The king crypto enjoyed $436 million in inflows.
“Short-bitcoin flows reversed, seeing outflows of US$8.5m following 3 straight weeks of inflows.”
Leading smart contract platform Ethereum (ETH) lost $19 million in outflows, bringing its month-to-date outflows to $117 million.
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