CoinShares’ latest weekly report paints a picture of a dynamic crypto asset investment landscape, with significant outflows from established players like Grayscale, while strong inflows into newly launched US ETFs. Meanwhile, the $3 million entry into Solana’s SOL coin project attracted attention. Here are the details…
Grayscale was mentioned in the market
The report details major outflows from Grayscale of US$2.2 billion last week and US$5 billion since January 11. However, daily outflows appear to be decreasing, offering a potential glimmer of hope for the firm. This comes amid the launch of US-based Bitcoin ETFs, which have attracted a staggering US$5.94 billion in inflows since their debut on the same date. This suggests that investor preference is shifting towards regulated avenues for exposure to digital assets.
Geographically, the US, Switzerland and Germany witnessed the most significant outflows of $409 million, $60 million and $32 million respectively. These outflows are likely linked to price declines and investor uncertainty triggered by Grayscale’s exit. On a brighter note, newly launched US ETFs experienced US$1.8 billion in inflows last week, indicating continued interest in regulated Bitcoin investment options.
There was a purchase for SOL coin, and funds emerged from these coins
As the primary focus, Bitcoin faced the most significant outflows at $479 million. Interestingly, short Bitcoin positions saw modest inflows of $10.6 million, indicating that some investors are expecting further price declines. Among altcoins, Ethereum experienced an outflow of $39 million, while Polkadot and Chainlink saw smaller outflows of $0.7 million and $0.6 million, respectively. This indicates a more cautious approach towards altcoin investments in the current market environment.
Bucking the trend, blockchain stocks continued to attract inflows totaling $17 million last week. This highlights broader interest in the underlying technology that powers crypto assets, regardless of short-term price fluctuations. Overall, the CoinShares report points to a transition period in the crypto asset investment landscape. While traditional players like Grayscale may face challenges, newly launched US ETFs are attracting significant investor interest. A mixed picture for altcoins and continued enthusiasm for Blockchain stocks underscore the diversified nature of the market.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.