Crypto investments products see inflows of $474M in July

Please fol­low and like us:
Pin Share

Dig­i­tal asset invest­ment prod­ucts record­ed their best month in July after fin­ish­ing the month with total inflows of $474 mil­lion, accord­ing to Coin­Shares Dig­i­tal Asset Fund Flows Week­ly Report.

The report revealed that dig­i­tal asset invest­ment prod­uct inflows for the week start­ing July 25 were $81 million.

It marked the fifth con­sec­u­tive week of inflows and brought the total inflows with­in that peri­od to $530 million.

These inflows are a sharp turn­around in the mar­ket direc­tion after a red June saw total out­flows of $481 million.

The turn­around comes after the broad­er cryp­to mar­ket regained the $1 tril­lion mark and flag­ship dig­i­tal assets slight­ly recov­ered from the bear market.

Short Bitcoin positions record first outflow in 5 weeks

Short Bit­coin posi­tion record­ed its first out­flow in five weeks as investors with­drew $2.6 mil­lion –sug­gest­ing that the bear­ish mar­ket sen­ti­ments are eas­ing up.

On the oth­er hand, Bit­coin (BTC) invest­ment prod­ucts had the most inflows, with almost $85 mil­lion invest­ed by insti­tu­tion­al investors.

Ethereum (ETH) con­tin­ued with its pos­i­tive flows, as it post­ed $1.1 mil­lion in inflow. Oth­er alt­coins like Solana (SOL) record­ed $1.5 mil­lion in inflows, while Lite­coin (LTC) saw $100,000 in inflows.

How­ev­er, there was an unusu­al­ly bad week for mul­ti-asset invest­ment prod­ucts, with out­flows of $3.7 mil­lion. It is the asset class’ sec­ond con­sec­u­tive week of out­flows, fin­ish­ing the month with $400,000 in outflows.

Purpose lead service providers’ inflow

Most of the inflows for the week of July 25 came from Pur­pose with $60.3 mil­lion. Oth­er providers like 21Shares, ProShares, and Coin­Shares con­tributed the remain­ing $20.8 mil­lion in inflows.

Only Coin­Shares XBT record­ed $2.9 mil­lion out­flows, fin­ish­ing the month with out­flows of $10.2 million.

Northern American investors are bullish

Geo­graph­i­cal­ly, Cana­da was respon­si­ble for the most inflows dur­ing the week of July 25 with $67.1 mil­lion, while Switzer­land had the most inflows with $356 million.

For con­text, the US record­ed only $56 mil­lion in inflows through July.

Brazil also saw minor out­flows of $3.3 mil­lion, while Swe­den con­tin­ues to record out­flows and fin­ish­es the month in the red.

Mean­while, trad­ing activ­i­ty last week was $1.3 bil­lion, far below the $2.4 bil­lion aver­age for the year.

Post­ed In: Bit­coin, Analy­sis

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.