Crypto Investment Products Attracted $306 Million Last Week

While the crypto market is on course to regain the $3 trillion market cap, institutional investors poured nearly $306 million in digital asset investment products in the last week. Year-to-date crypto inflows have reached a record high of $9.5 billion.

BTC investment products attracted the largest institutional inflows in 5 weeks totaling $247 million. With that, the global Bitcoin assets under management reached $48 billion. Further, the overall value of global crypto assets under management touched $72.8 billion last week.

Bitcoin and Ethereum have seen strong price recovery in the last few days. BTC crossed the level of $58,700 yesterday while Ethereum touched $4,500. While Bitcoin took a major hit during the Asian session on Tuesday, Ethereum held on to the gains and stayed above $4,400.

“Digital asset investment products saw inflows totaling US$306m last week, bringing month-to-date inflows to US$787m and year-to-date inflows to a record US$9.5bn. Continued price pressures saw total assets under management (AuM) fall from US$75.4bn to US$72.8bn. Bitcoin saw the largest inflows in 5 weeks totaling US$247m following the launch of another investment product in Europe. This brings the 11-week run of inflows to US$2.7bn. Crypto asset Ethereum saw inflows totaling US$23m last week, marking its 5th consecutive week of inflows,” CoinShares mentioned in its latest digital asset fund flows report.

Multi-Asset Crypto Products

Apart from BTC and ETH, other crypto products, including Polkadot (DOT) and Solana (SOL) emerged as winners in the category of multi-asset products. DOT and SOL represented 8.6% (US$11.5m) and 5.9% (US$14.6m) of assets under management respectively last week. In total, multi-assets is the 3rd largest investment product with a total of $4.6 billion in assets under management.

Overall dominance of altcoins is increasing rapidly. Despite the reason that Bitcoin is still the largest crypto asset in the world, its dominance has decreased gradually in the last few months due to a surge in the market dominance of BNB, Solana and Polkadot.

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