CoinShares records year-to-date inflows into crypto funds

Total assets in cryptocurrency investment products surged by $274 million over the week. CoinShares analysts attributed the inflow to investors seeking to take advantage of price declines linked to коллапсом стейблкоина UST от Terra.

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[5/5] For the full report, click here: https://t.co/MbvaGEUdwi

— CoinShares 👩‍🚀 (@CoinSharesCo) May 16, 2022

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Such high inflows into crypto funds were last seen in late March.

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Positive momentum was driven by inflows into the Purpose Bitcoin ETF from Canadian Purpose Investments, amounting to $284.8 million. Investors focused on the first cryptocurrency — investments in products based on it attracted a total of $298.6 million over the week.

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Outflows from Ethereum funds continued. Over seven days they totaled $26.7 million and $236 million year-to-date.

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Investor interest remains in multi-asset products. Inflows to them over the week rose by $8.6 million, year-to-date by $160 million. Another popular investment avenue — Solana-based funds — reduced assets by $5.3 million.

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For products based on other altcoins, mixed dynamics were observed. AUM of instruments tied solely to LUNA collapsed by 99%.

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Analysts separately noted the third-largest ever outflow from blockchain company equities, totaling $51 million.

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Coinbase shares have fallen 81.8% c момента IPO. The bitcoin exchange’s net loss for the period составил $1.98 per share, nearly double analysts’ expectations.

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Stock performance lagged the market, with shares of other blockchain companies демонстрировали weakness as Bitcoin fell to $30,000.

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