Ethereum Dominates Institutional Capital Flows: CoinShares
According to renowned digital asset management, institutional investors stockpile Ethereum (ETH) as crypto sentiment improves.
Coinshares reports in their latest Digital Asset Fund Flows weekly report that institutional investors favor ETH as the crypto markets experience their first week of outflows in the last five weeks.
“Digital asset investment products saw minor outflows totaling US$6.5m, following four prior weeks of inflows that totaled US$742m. Trading volumes last week were below the year weekly average at US$1.2bn compared to US$2.4bn the prior week.”
Source: Coinshares/Twitter
The majority of the negative emotion, according to Coinshares, came from North American investors.
“The minor negative sentiment was primarily focussed on the North American market, seeing 99% of (US$21m) outflows. This was offset by US$12m inflows into Switzerland and US$1.9m into Germany.”
Last week, both Bitcoin (BTC) and short-BTC investment products suffered outflows.
“Bitcoin was the primary focus (of investor outflows), as has recently been the case, seeing US$13m of outflows, while short bitcoin investment products saw outflows for the 13th consecutive week totaling US$5.5m.”
Outflows from multi-asset investment products and Litecoin (LTC) totaled $0.4 million and $0.3 million, respectively.
Meanwhile, with $6.6 million in inflows, ETH products led the pack. Inflows into XRP goods totaled $2.6 million, while Solana (SOL), Uniswap (UNI), and Polygon (MATIC) received $1.1 million, $0.7 million, and $0.7 million, respectively.
