Digital asset investment products saw a total inflow of $100M last week despite the recession in the crypto market. However, the leading altcoin Ethereum (ETH) continues to suffer with another week of exit. The leading crypto Bitcoin (BTC), on the other hand, saw a total of $126 million inflows last week.
A total of $100 million inflows to digital asset investment products
Digital fund management company CoinShares has published its report on cryptocurrency fund investments between May 30 and June 3. According to the report, digital asset investment products saw a total inflow of $100 million last week, despite the stagnation in the crypto market. With fund flows, total assets under management (AuM) reached $39.8 billion.
When looking at the regional flows, it is seen that they are mostly from America. Streams in the Americas totaled $88 million, while streams in Europe totaled $11 million. According to experts, the $570 million inflow and $41 million outflow, respectively, from the beginning of the year to the present, shows that European investors have been in a much more downward trend this year so far.
Fund outflows from Ethereum (ETH) entered its 9th week
Leading altcoin Ethereum, one more week totaling $32 million continues to suffer with outflows. Experts point out that Ethereum (ETH) has endured a straight exit for 9 weeks, implying that negative investor sentiment is persistent. On the other hand, since the exits started in December 2021, it has been just under 7% of the total AuM.
Limited entry to altcoins as leading cryptocurrencies attract
Kriptokoin.com Leading crypto Bitcoin (BTC) saw a total of $126 million in inflows last week, with total inflows to date just over half a billion at $506 million. Short Bitcoin also saw entries, totaling $1.3 million last week. While relatively small, year-to-date inflows represent 30% of the total AuM ($55 million).
Multi-asset investment products totaled $4.3 million in inflows, indicating consistent inflows during this negative price action. However, altcoins saw almost no entry in the past week. The fund flows therefore highlight the fact that investors are flocking to the relative safety of the leading crypto Bitcoin. Meanwhile, an Ethereum competitor Solana (SOL) and Rippe (XRP) are among the rare altcoins according to entry, albeit with a low amount.
