The cryptocurrency market has been in a slump since 2022. Due to recent price drops, the majority of institutional investors have sold most of their cryptocurrency holdings.
The cryptocurrency market was upbeat in 2021 and saw more inflows than outflows. However, the current market crisis has altered the 2022 scenario.
Investment products for Ethereum had a difficult time luring new money last week. This has been the situation since the year 2022 began.
However, according to CoinShares, short-Bitcoin products accounted for the majority of last week’s crypto inflows. Additionally, there were inflows of $600,000, $700,000, and $1 million in Cardano, Polkadot, and Solana, respectively.
After 11 weeks of outflows, Ethereum Records Inflows
Since the beginning of the year, ETH has lost about $451 million. Consequently, ETH underperformed other digital assets.
Last week, however, there was a slight change in attitude. Investments in Ethereum saw inflows of over $5 million. Investors paid more attention to short-BTC investment products despite the bearish market.
Also recording minor inflows were multi-asset investment products, Polkadot (DOT), and Solana (SOL). Additionally, multi-asset investments received over $4.4m in new investments.
The last week saw about $64 million come into cryptocurrency investment products, according to CoinShares. However, short-BTC products received the majority of the inflows.
The last week of June saw a sharp increase in outflows from BTC investment products. As a result, the total value of managed international digital assets decreased.
The Flow Of People From Other Areas
Not just Sweden experienced inflows in the previous week. Additionally, managers of cryptocurrency assets in Australia, North America, and Europe noted crypt inflows.
American asset managers attracted cryptocurrency inflows totaling over $46 million. This sum includes investments in short-BTC products.
According to the report,
“Outside of the United States, small crypto inflows were observed in long investment products. They total more than $20 million and come from Switzerland, Germany, Canada, and Brazil. This demonstrates that buyers are increasing their long positions at the current trading price for the cryptocurrency.
Additionally, newcomers to the US market could be the cause of the inflows into short-BTC. According to the most recent weekly flows, there are currently $35.4 billion in managed global crypto assets.
Additionally, about $32 billion has been invested in ETH and BTC products together. However, it’s unclear how this week’s inflows will pan out.
