Digital asset manager CoinShares said institutional investors poured hundreds of millions of dollars into cryptocurrency investment vehicles last week despite selling pressure across the market.
CoinShares said in its latest Digital Asset Fund Flows report that institutional cryptocurrency investment products saw net inflows of $308 million last week.
“Digital asset investment products recorded inflows totaling $308 million last week, but this overshadows the largest single-day outflow of $576 million on December 19, with total outflows over the last two days of last week reaching $1 billion. It’s reached. .”
Last week’s hawkish Federal Open Market Committee (FOMC) announcement led to $17.7 billion in losses in assets under management (AuM) by cryptocurrency exchange-traded products (ETPs), according to CoinShares.
“These outflows may sound surprising, but they represent only 0.37% of total AuM and are the 13th largest daily outflows on record. The largest daily outflow occurred in mid-2022 when FOMC interest rate hikes led to outflows of US$540 million (2.3% of AuM).”
Bitcoin (BTC) leads, as usual, with inflows of $375 million. Ethereum (ETH) and
“The most dramatic flows were multi-asset investment products, which saw outflows of $121 million last week.”
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