Bitcoin, Ethereum and XRP See Large Weekly Inflows

With a marginal recovery across the crypto market, institutional investors have started increasing their exposure in investment products related to Bitcoin, Ethereum, Solana and XRP. Last week, crypto investment products saw inflows worth $75 million.

Bitcoin led the recent weekly institutional inflows with $25 million worth of investment. The second-biggest crypto asset, Ethereum finally broke its 9-week spell of outflows and witnessed inflows worth $21 million.

Among other digital currencies, Solana, XRP and Terra gained popularity among institutional investors with investments of $3.1 million, $2 million and $2.2 million, respectively. Apart from the mentioned digital assets, Tezos and Cosmos saw an uptick in weekly inflows.

“Digital asset investment products saw inflows totaling US$75m last week, with the last 4 week run of inflows totaling US$209m, representing 0.4% of total assets under management (AUM). The inflows remain relatively minor in comparison to the inflows seen in Q4 2021. There are some regional variances, with US$5.5m of outflows in the Americas and US$80.7m of inflows into European investment products. Bitcoin saw inflows totaling US$25m last week, marking a 4-week run of inflows,” CoinShares’ weekly crypto flows report highlighted.

Bitcoin AUM

Last week, the overall value of global BTC assets under management crossed $36 billion. The number is marginally higher compared to the prior week but significantly lower than the all-time high of over $50 billion in November 2021. The value of Bitcoin assets under management dropped in tandem with its price. Since November last year, Bitcoin has lost almost 40% of its value. Even after a spike of nearly 20% in February so far, the digital asset is still trading near $44,000, compared to $69,000 in November 2021.

“Blockchain equity investment products saw the largest flows since mid-December with inflows totaling US$69m last week,” CoinShares added.