CoinShares has released its new altcoin report. Institutional investors have ended their weeks-long streak of capital inflows. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
CoinShares: First institutional fund outflow in 17 weeks!
The crypto market saw $142 million worth of outflows from institutional investors for the first time in 17 weeks, according to data from leading digital asset manager CoinShares. CoinShares made the following statements on the subject:
A total of $142 million was seen in crypto-asset investment products. This was the first debut after 17 weeks of inflows and the biggest weekly debut on record. The biggest breakout on record was in early June 2021, with weekly exits totaling $97 million.
CoinShares: These 2 altcoins have experienced a capital inflow!
Bitcoin (BTC) and Ethereum (ETH) accounted for most of the loss as they saw institutional capital outflows of $89.2 million and $63.6 million, respectively, according to the data. However, funds poured into ETH rivals Solana (SOL) and Polkadot (DOT) represent capital inflows of $6.7 million and $2.5 million over the same timeframe. While the pullback may seem dire, CoinShares says it’s important to note the reason for the pullouts. CoinShares made the following statements on the subject:
While this output may seem alarming, there are a few points to consider. First, it comes at a time when there are significant outflows in all risk assets following the US Federal Reserve’s statement on the recent contraction. Second, exits represent only 0.23% of total assets under management (AUM) and from a historical perspective are small compared to exits in early 2018, where weekly exits represented 1.6% of AUM. Finally, the exits come at a time when annual entries hit a record $9.5 billion, compared to a total of 6.7 billion in 2020.
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