Digital asset investment products saw a total inflow of $100M last week despite the recession in the crypto market. However, the leading altcoin Ethereum (ETH) continues to suffer with another week of exit. The leading crypto Bitcoin (BTC), on the other hand, saw a total of $126 million inflows last week.
A total of $100 million was inflows into digital asset investment products
Digital fund management company CoinShares has published its report on cryptocurrency fund investments between May 30 and June 3. According to the report, digital asset investment products saw a total inflow of $100 million last week, despite the stagnation in the crypto market. With funds flows, total assets under management (AuM) reached $39.8 billion.
When looking at the regional flows, it is seen that they are mostly from America. Streams in the Americas totaled $88 million, while streams in Europe totaled $11 million. According to experts, the $570 million inflow and $41 million outflow, respectively, from the beginning of the year to the present, shows that European investors have been in a much more downward trend this year so far.
Ethereum (ETH) fund outflows enter its 9th week
Leading altcoin Ethereum continues to suffer with a total exit of $32 million for another week . Experts point out that Ethereum (ETH) has endured a straight exit for 9 weeks, implying that negative investor sentiment is persistent. On the other hand, since the exits started in December 2021, it has been just under 7% of the total AuM.
Limited entry to altcoins while leading crypto security flow
As we reported on Kriptokoin.com, leading crypto Bitcoin (BTC) last week totaled $126 million It has seen inflows, and its total inflows to date are just over half a billion dollars at $506 million. Short Bitcoin also saw entries, totaling $1.3 million last week. While relatively small, year-to-date inflows represent 30% of the total AuM ($55 million).
Multi-asset investment products totaled $4.3 million in inflows, indicating consistent inflows during this negative price action. However, altcoins saw almost no entry in the past week. The fund flows therefore highlight the fact that investors are flocking to the relative safety of the leading crypto Bitcoin. Meanwhile, an Ethereum competitor Solana (SOL) and Rippe (XRP) are among the rare altcoins according to entry, albeit with a low amount.
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