By Shelly Melancon (Switzerland)
Since 2022, the crypto market has been in a crisis. Most institutional investors have sold off most of their crypto holdings due to recent price drops.
In 2021, the crypto market was bullish and recorded more inflows than outflows. However, the ongoing market crisis has changed the scenario in 2022.
Last week, investment products for Ethereum had a tough time attracting inflows from investors. This has been the case since the beginning of 2022.
However, CoinShares reported that most crypto inflows last week came from short-Bitcoin products. Also, Cardano, Polkadot, and Solana saw inflows of $600,000, $700,000, and $1 million, respectively.
Ethereum Records Inflows After 11 Weeks Of Outflows
The YTD (year-to-date) outflows for ETH were about $451 million. As a result, ETH performed badly compared to other digital assets.
Meanwhile, the sentiment changed a bit last week. Ethereum investments recorded inflows of over $5 million. Despite the bearish market, investors paid more attention to short-BTC investment products.
Furthermore, Solana (SOL), Polkadot (DOT), and multi-asset investment products also recorded minor inflows. In addition, multi-asset investments saw inflows of over $4.4m.
Also read:According to CoinShares, cryptocurrency investment products witnessed inflows of about $64m last week. However, the majority of the inflows went to short-BTC products.
In the last week of June, BTC investment products recorded a huge surge in outflows. Consequently, the total value of international digital assets that are under management dipped.
The InFlow From Other Regions
Sweden is not the only country that recorded inflows in the last week. Also, cryptocurrency assets managers across Australia, North America, and Europe recorded crypt inflows.
For asset managers in the United States, they attracted crypto inflows worth over $46 million. This figure includes short-BTC product investments.
The report stated that:
“Small crypto inflows were recorded in long investment products apart from the United States. They include Switzerland, Germany, Canada, and Brazil which total over US$20m. This shows that buyers are adding to the long positions at the crypto’s current trading price.”
Additionally, the inflows into short-BTC might be due to first-timers entering the US market. Global crypto assets under management currently equal $35.4 billion following the most recent weekly flows.
Furthermore, the combined investment of ETH and BTC products stands at about $32 billion. However, it is uncertain how the inflows will turn out this week.
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