Institutions Pour Money Into XRP, Polkadot (DOT) and Solana (SOL)

According to CoinShares report, crypto investment products took a hit of nearly $50 million in outflows last week, regardless of inflows to certain altcoins.

The recent Digital Asset Fund Flows Weekly report by the leading digital assets manager, reveals that majority of last week’s outflows originated in North America.

“Digital asset investment products saw outflows for the second consecutive week, totaling US$47m last week. The same trend continued with outflows predominantly coming from North American providers, with outflows comprising 98% while flows in Europe were broadly flat. We believe the recent negative sentiment in North America is due to continued jitters overregulation and geopolitical issues caused by the Ukrainian conflict.”

The report shows that digital investment products related to Bitcoin (BTC) witnessed the heaviest outflows last week.

“Bitcoin saw the largest outflows, totaling US$33m, half the amount seen the previous week. This last two weeks of outflows now total US$101m, but year-to-date flows remain positive at US$64m.”

Ethereum (ETH) investment products likewise took a hit, but saw far fewer outflows than the previous week.

“Ethereum saw outflows totaling US$17m last week, much less than the previous week which saw outflows of US$50m.”

Despite the two leading digital asset investment products taking a hit, several altcoins investment products enjoyed inflows last week. XRP, Polkadot (DOT), Solana (SOL) and Litecoin (LTC) reeled in $1.1 million, $0.8 million, $0.7 million, and $0.3 million respectively. Multi-asset digital investment products saw $0.6 million in inflows last week.