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Home»ALTCOIN NEWS»Crypto ETP Institutional Flows Reach Record $20.5 Billion Year-To-Date: CoinShares
ALTCOIN NEWS

Crypto ETP Institutional Flows Reach Record $20.5 Billion Year-To-Date: CoinShares

By Crypto FlexsJuly 29, 20242 Mins Read
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Crypto ETP Institutional Flows Reach Record .5 Billion Year-To-Date: CoinShares
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Digital asset manager CoinShares says institutional crypto investors will pour record amounts of money into cryptocurrency exchange-traded products (ETPs) in 2024.

CoinShares said in its latest Digital Asset Fund Flows report that digital asset investment products reached a record high last week of the year despite a weak week with net inflows of $245 million.

“Digital asset investment products saw relatively modest inflows of $245 million last week, but this obscures a mixed picture for a range of digital assets. Volumes rose to $14.8 billion this week, the highest since May, driven by the recent launch of an Ethereum ETF. The recent price rally has pushed total assets under management (AuM) to $99.1 billion, while year-to-date inflows have reached a record $20.5 billion.”

Source: Rekt Capital/X

Bitcoin (BTC) investment vehicles saw inflows of $519 million.

According to CoinShares, Ethereum (ETH) flows have reacted similarly to the launch of an ETH exchange-traded fund (ETF), similar to how BTC flows reacted to the launch of a BTC ETF in January 2024.

“The launch of a US spot-based Ethereum ETF saw the largest inflows since December 2020, with the newly issued ETF seeing inflows of $2.2 billion and volume for the ETH ETP up 542%. This figure is somewhat controversial as Grayscale invested capital from its existing closed-end trust (around $1 billion) into its new Mini Trust ETF (a week ago), which may help explain the consistent outflows in recent years.

Grayscale’s existing trusts also continued to see outflows of $1.5 billion this week as some investors cashed out, bringing net outflows to $285 million last week.”

Multi-asset cryptocurrency investment vehicles saw inflows of $8.7 million, with Cardano (ADA), Litecoin (LTC), and XRP seeing inflows of $1.2 million, $600,000, and $500,000, respectively.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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