Inflows into institutional crypto products last week was just $15 million, a staggering 80% fall from the previous week's tally.
Inflows into institutional crypto products last week was just $15 million, a staggering 80% fall from the previous week’s tally.
Ethereum experienced net selling of $7.5 million, reversing net inflows witnessed in the week before. Having said that, the capital infusion into institutional crypto products last week was just $15 million, a staggering 80% fall from the previous week’s tally of, totaling over $16 million. This represented about 72% of the total assets under management . On a YTD basis, Bitcoin saw aggregated capital inflows of $260 million.The fact that inflows into Bitcoin were more than that of the broader digital assets market suggested that altcoins contributed massively to the sell-offs.
The report reinforced regional variations in investors’ sentiment. Major European and North American hubs of institutional crypto trading witnessed net influx of funds. However, while Germany recorded inflows in $16 million, the largest market U.S. could muster minimal inflows of just $2.1 million.The crypto community was in for some drama on Monday. An unverified news regarding approval of spot BTC ETFs shared by a popular crypto news platform propelled BTC to nearly $30,000.
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