Institutional investors poured hundreds of millions into crypto investment vehicles last week despite market-wide selling pressure, according to digital asset manager CoinShares.
In its latest Digital Asset Fund Flows report, CoinShares says institutional crypto investment products recorded net inflows of $308 million last week.
“In digital asset investment products, we continued to see inflows totaling $308 million last week, although this masks the largest single day of outflows on December 19th totaling $576 million, with total outflows increasing in recent times “It reached $1 billion on both days last week.”
According to CoinShares, last week’s restrictive Federal Open Market Committee (FOMC) release resulted in a loss of $17.7 billion in assets under management (AuM) from crypto exchange-traded products (ETPs).
“While these outflows may sound alarming, they represent just 0.37% of total assets under management, making them the 13th largest single-day outflow on record. The largest single-day outflow occurred in mid-2022, when the FOMC rate hike resulted in $540 million in outflows (2.3% of assets under management).”
Bitcoin (BTC) led the way as usual with inflows of $375 million. While Ethereum (ETH) and XRP…
