Crypto institutional funds see high demand amid bearish markets – CoinShares. n().

Institutional investors poured hundreds of millions of dollars into cryptocurrency investment vehicles last week despite selling pressure in the market, according to digital asset manager CoinShares.

In its latest digital asset fund flow report, #CoinShares said institutional #cryptocurrency investment products recorded net inflows of $308 million last week, according to the report. "Inflows into digital asset investment products totaling $308 million continued last week, masking the largest single-day outflow on Dec. 19 totaling $576 million, bringing the total outflow for the last two days of last week to $1 billion. According to CoinShares, the hawkish stance of the U. S. Federal Open Market Committee (FOMC) last week resulted in a loss of $17.7 billion in assets under management (AuM) of cryptocurrency exchange-traded products (ETPs). These outflows may seem alarming. These outflows may seem alarming, but they represent only 0.37% of total assets and are the 13th largest daily outflow in history. The largest daily outflow occurred in mid-2022 when the FOMC rate hike caused $540 million (2.3% AuM) " As usual, #bitcoin (BTC) led the way with $375 million in inflows. #Ethereum (ETH) and XRP products saw inflows of $51.3 million and $8.8 million, respectively, while multi-asset investment products (products that invest in a basket of cryptocurrencies rather than a single cryptocurrency) saw a significant increase in outflows. Read us at: Compass Investments #CryptoUpdates