bitcoinworld.co.in
Leading digital asset manager CoinShares notes how institutional investors are having isseus on the latest crypto correction.
Furthermore, CoinShares says crypto investment products are seeing about $88 million worth of inflows last week.
However, the numbers doesn’t show clearly how some investment providers are losing over 10% of their total assets under management (AuM).
So, CoinShares explains.
“Some providers saw outflows representing as much as 11% of assets under management…”
“(AuM) while others saw inflows representing 14% of AuM.”
So, CoinShares continues.
“[These inflows and outflows suggest] extremely polarized opinion amongst investors,…”
“with some panic selling during this most recent price decline,..”
“while others seeing it as a buying opportunity.”
More so, CoinShares notes such sentiments is in the inflows and outflows of the two largest crypto assets Bitcoin (BTC) and Ethereum (ETH).
“All the panic selling was focused on Bitcoin last week,”
Then, it adds.
“Despite this, on an aggregate basis, Bitcoin saw inflows totaling US$51m.”
“Despite this, trading volumes across [BTC] investment products fell by 13% to US$3.1bn for the week.”
More so, CoinShares continues.
“Ethereum saw minor outflows totaling US$17m last week, the first time following six weeks of…”
“inflows, although it reflects only 0.09% of AuM and is therefore likely not meaningful.”
However, there are two smart contract platform altcoins, which CoinShares describes as “world computer” coins, earns major weekly inflows.
“Solana, Tron and Multi-asset investment products bucked the trend…”
“with inflows totaling US$19m, US$17m and US$15m, respectively.”
Lastly, CoinShares concludes.
“The recent price appreciation of Tron, a “world computer” coin,..”
“has pushed its total AuM to above that of Cardano.”
Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors