With the latest weekly inflows of $81 million, crypto investment products saw monthly inflows of approximately $474 million in July, which is the highest level in 2022. Last month, Bitcoin investment products attracted $306 million worth of inflows. With that, BTC assets under management spiked above $20.4 billion during the mentioned period.
Ethereum, the world’s second-most valuable digital asset, witnessed inflows worth $137.9 million last month. Among other notable performers, crypto asset Solana (SOL) attracted almost $3.9 million in monthly inflows. Minor inflows were seen across Tron, Cardano and XRP investment products.
“Digital asset investment products saw inflows totaling US$81m last week, signifying the 5th consecutive week of inflows totaling US$0.53bn, or 1.6% of total assets under management (AUM). July represents the strongest set of monthly inflows so far this year totaling US$474m, almost correcting all of the June outflows which totaled US$481m. Regionally the majority of inflows were from North America with inflows from both the US and Canada totaling US$15m and US$67m, respectively. Brazil and Sweden both saw minor outflows,” CoinShares noted in its weekly report.
Amid the latest surge in institutional inflows, the total value of global crypto assets under management stands near $32.5 billion.
In the last week of July, investors poured almost $84.8 million into BTC investment products. Ethereum, Solana and Litecoin saw minor inflows. Global crypto asset management firms now manage approximately $8.2 billion worth of ETH assets.
“Bitcoin saw inflows totaling US$85m last week while short-Bitcoin saw outflows totaling US$2.6m, the first week of outflows after the recent bear market saw a 5 week run of inflows. Multi-asset investment products, unusually, saw outflows for the second consecutive week totaling US$3.7m, suggesting investors are becoming more targeted in their investment. Solana saw minor inflows totaling US$1.5m, remaining the investor favorite for this year with year-to-date inflows totaling US$114m,” the report added.
This article was written by Bilal Jafar at www.financemagnates.com.