As the crypto market crashed, digital asset investment products saw a staggering $40 million total inflows last week. There was a net outflow from the leading altcoin Ethereum (ETH), while institutional money flowed to its rival Solana (SOL), Cardano (ADA) and Ripple (XRP). Experts think investors are taking advantage of the significant price weakness.
While corporate money left Ethereum (ETH), these altcoins flowed to
Cryptocurrency market as you can follow from news on Cryptokoin.com takes a deep blow. However, digital asset investment products saw a staggering $40 million total inflows last week, as experts think investors are taking advantage of the significant price weakness to add positions. Flows were disproportionate, with $66 million in inflows in North American investment products, with a total outflow of $26 million in Europe.
Cryptocurrency Funds Entries / Source: CoinShares Interestingly, we have not seen the same increase in investment product trading activity as we have historically seen during periods of extreme price weakness, making this the end of 4 weeks of negative sentiment. It’s too early to tell if it does.
Leading crypto Bitcoin (BTC), the primary digital asset with more positive sentiment from investors, saw $45 million in inflows and total assets under management (AuM), as seen earlier in the year. dropped to very similar levels seen during low sensitivity.
However, the negative Ethereum sentiment remains, with outflows totaling $12.5 million last week, bringing the year-to-date total exits to $207 million representing 0.8% of AuM.
Solana was the only altcoin to see measurable inflows totaling $1.9 million last week. However, there was an entry of $ 0.2 million in Cardano and Ripple, albeit low.
Short Bitcoin saw the second largest weekly entry on record with a total of $4 million. AuM is currently at a record $45 million, but this still remains only 0.15% of long Bitcoin investment products.
