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Crypto based investment products saw an inflow of $1.35 billion last week. Consequently, the total inflows over the past three weeks reached $3.2 billion. Bitcoin experienced an inflow of $1.27 billion last week. The outlook for Ethereum is very positive. It saw an additional $45 million inflow last week, surpassing Solana as the altcoin with the highest inflow since the beginning of the year.
Institutional Trading Details
ETP trading volumes also significantly increased, reaching $12.9 billion, a 45% rise compared to the previous week. However, this represented a portion 22% lower than the normal broader crypto market volumes.
Regionally, the picture was more mixed compared to the previous week. The US and Switzerland saw significant inflows of $1.3 billion and $66 million, respectively, while Brazil and Hong Kong experienced small outflows of $5.2 million and $1.9 million, respectively.
Inflows into Bitcoin and Altcoins
Bitcoin saw an inflow of $1.27 billion last week, while short-focused Bitcoin ETPs saw an outflow of $1.9 million. This brought the total outflows since March to $44 million, representing 56% of assets under management (AuM), highlighting the positive sentiment continuing since the halving event in April.
Solana also saw an inflow of $9.6 million last week. However, it now lags behind Ethereum with a total inflow of $71 million since the beginning of the year. Litecoin, with an inflow of $2.2 million last week, was the only other altcoin to see an inflow exceeding $1 million.
Unlike tokens, Blockchain-based stocks continued to suffer with an outflow of $8.5 million last week, despite most ETFs outperforming global stock indices.
