Cryptocurrency asset management company CoinShares stated in its report released on Monday (8th) that the net inflow of digital asset investment products last week was $441 million. The report also mentioned that the recent price weakness caused by the sell-off pressure from Mt.Gox and the German government may be seen as a buying opportunity. CoinShares also pointed out that the trading volume of these Exchange Traded Products (ETPs) last week was relatively low at $7.9 billion, reflecting the typical seasonal pattern of lower trading volume in the summer.
Source:
CoinShares
In terms of regions, the main source of fund inflow was from the United States, reaching $384 million. However, there were also opportunistic buyers from many countries, notably Hong Kong, Switzerland, and Canada, with net inflows of $32 million, $24 million, and $12 million respectively. Germany was an exception, recording a net outflow of $23 million.
Source:
CoinShares
In terms of asset categories, the net inflow of Bitcoin-related investment products was $398 million. However, unusually, it only accounted for 90% of the total inflow, as investors chose to invest in a wider range of altcoin products. The most notable one was Solana, which had a net inflow of $16 million last week, bringing the total inflow for the year to $57 million. CoinShares stated that it performed the best among altcoins in terms of fund inflow.
The sentiment towards Ethereum seems to have improved, recording a net inflow of $10 million. However, it is still the only ETP that has shown a net outflow since the beginning of the year.
Source:
CoinShares
The report from CoinShares also pointed out that this sentiment was not reflected in blockchain stocks, as there was a further outflow of $8 million last week, bringing the net outflow for the year to $556 million.