dailyhodl.com
A leading digital assets manager is finding that institutional investors are taking advantage of discounted crypto prices in light of the FTX-fueled market crash.
In its latest Digital Asset Fund Flows Weekly report, CoinShares says digital asset investment products had their highest inflows in 14 weeks.
“Digital asset investment products saw the largest inflows for 14 weeks totaling $42 million.
The inflows began later in the week on the back of extreme price weakness prompted by the FTX/Alameda collapse.”
Bitcoin (BTC) investment vehicles enjoyed the lion’s share of inflowing capital, gaining $19 million last week.
“Bitcoin was the primary focus with inflows totaling $19 million, the largest since early August this year. However, short-bitcoin investment products also saw inflows totaling $12.6 million.”
CoinShares observed inflows from all regions, especially the US, Brazil and Canada.
“Switzerland was the outlier, seeing minor outflows totaling $4.6 million, although it remains the country with by far the most inflows year-to-date.”
Ethereum (ETH) investment products saw $2.5 million in inflows last week while Solana (SOL) lost $1.1 million and Polygon (MATIC) took in $200,000. Multi-asset investment vehicles, or those investing in more than one digital asset, had their biggest week of inflows since June, according to CoinShares.
“Multi-asset saw its largest inflows since June 2022 of $8.4 million suggesting investors see it as a relative safe haven, while there was very little activity in altcoins.”