CoinShares: What Institutional Investors Are Doing This Week

Cryptocurrency analysis company CoinShares has released a report analyzing Bitcoin and altcoin movements among institutional firms. According to the report, there was a total outflow of $9.7 million in digital asset investment products this week, clearly reflecting the moderately negative mood that has been going on for the past three weeks. Bitcoin saw small outflows of $6.5 million for the third week in a row, reflecting the negative perception at the beginning of the year. However, short-bitcoin investment products saw small inflows of $1.2 million over the same period.

In contrast, XRP saw a total inflow of $3 million, which represents a 9% increase in total assets under management (AuM). This trend is believed to be due to increased clarity in XRP’s legal process with the US Securities and Exchange Commission (SEC).

Ethereum continued its negative streak, with minor breakouts of $3 million for the eighth consecutive week of release. Trading volumes remained low, with Bitcoin volumes averaging $5 billion per day and exchange-traded products (ETP) averaging $173 million per day.

Regionally, small inflows of $0.6 million and $0.8 million were seen in Germany and Switzerland, respectively, while outflows of $4.5 million and $4.1 million were seen in Brazil and the USA, respectively. Overall, the total AuM dropped to $20.5 billion, its lowest point since the FTX crash, but rebounded after a while. However, Binance Coin (BNB) and Litecoin (LTC) funds experienced a net inflow of $ 0.2 million.