Digital assets manager CoinShares says institutions poured $2 billion into crypto products last month.
In the latest Digital Asset Fund Flows report, CoinShares say Digital asset investment products reached $185 million in inflows last week.
“Digital asset investing products saw inflows totaling $185 million for the fourth week in a row, while May saw inflows of $2 billion, pushing inflows above the $15 billion mark for the first time ever this year came out. However, volumes fell to $8 billion this week, compared to $13 billion the week before.”
The Americas region brought in inflows of $130 million, while Switzerland and Canada saw inflows of $36 million and $25 million, a stark reversal for Canada, which saw total outflows last month.
While investor sentiment remained positive on Bitcoin (BTC), the crypto king raked in $148 million last week, while short BTC products saw outflows of $3.5 million.
Meanwhile, Ethereum (ETH) products raised $33.5 million last week.
“This represents a turnaround in investor sentiment in an asset that saw outflows totaling $200 million ten weeks earlier. This positive news for Ethereum has also had an impact on Solana, which saw another $5.8 million inflow last week.”
Solana (SOL) enjoyed inflows of $5.8 million during the period, while Chainlink (LINK), XRP, Litecoin (LTC), and Cardano (ADA) saw inflows of $1 million, $0.8 million, $0.6 million respectively and $0.3 million.
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Generated image: Midjourney