In light of the market crisis caused by FTX, a prominent manager of digital assets has observed that institutional investors are taking advantage of the lower crypto pricing.
According to CoinShares’ most recent Digital Asset Fund Flows Weekly report, digital asset investment products had their greatest inflows in 14 weeks.
In the last 14 weeks, $42 million has flowed into investment products focused on digital assets. The inflows started later in the week when the FTX/Alameda crash precipitated significant price weakening.”
Last week, Bitcoin (BTC) investment vehicles gained $19 million, representing the lion’s share of capital inflows.
Bitcoin transactions totalling $19 million were the biggest since early August of this year. However, short-bitcoin investment products witnessed a total of $12.6 million in inflows.”
CoinShares saw inflows from all areas, including the United States, Brazil, and Canada. Switzerland had slight withdrawals of $4.6 million, but remains the nation with the largest inflows year-to-date.
Last week, Ethereum (ETH) investment products received $2.5 million, while Solana (SOL) lost $1.1 million and Polygon (MATIC) received $200,000. According to CoinShares, multi-asset investment vehicles, or those that invest in more than one digital asset, saw their largest week of inflows since June.
“Multi-asset witnessed its greatest inflows since June 2022, totaling $8.4 million, indicating that investors see it as a relative safe haven, whereas altcoins saw no activity.”
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