EddieJayonCrypto
23 Dec 24
Last week, institutional investors invested $308 million into crypto investment vehicles despite market sell pressure, according to CoinShares. The company's Digital Asset Fund Flows report also revealed that a hawkish FOMC release led to a $17.7 billion loss in assets under management for crypto ex...
Last week, institutional investors invested $308 million into crypto investment vehicles despite market sell pressure, according to CoinShares. The company's Digital Asset Fund Flows report also revealed that a hawkish FOMC release led to a $17.7 billion loss in assets under management for crypto exchange-traded products.
Bitcoin led with $375 million in inflows, while Ethereum and XRP products received $51.3 million and $8.8 million respectively. Multi-asset investment products experienced significant outflows, totaling $121 million.
According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release resulted in a $17.7 billion loss in assets under management (AuM) by crypto exchange-traded products (ETPs). While these outflows may sound alarming, they comprise just 0.37% of total AuM, ranking as the 13th largest single-day outflow on record.
Bitcoin (BTC) led the way with $375 million in inflows. Ethereum (ETH) and XRP products enjoyed $51.3 million and $8.8 million in inflows each, while multi-asset investment products saw a significant uptick in outflows, totaling $121 million.