CoinShares reports surge in institutional capital in crypto markets

CoinShares, a digital asset management firm, has reported a significant influx of institutional capital into the crypto markets, indicating a positive shift in investor sentiment. This information comes from CoinShares’ most recent Digital Asset Fund Flows Weekly Report.

According to the report, the crypto markets have seen the highest inflows for 2023, following BlackRock’s application for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

You might also like: BlackRock nears bitcoin ETF filing, partnering with Coinbase custody

The week witnessed the most significant weekly inflows since July 2022, amounting to $199 million. This influx corrected nearly half of the outflows observed over the previous nine consecutive weeks.

The report further stated that exchange-traded product (ETP) trading volumes were 170% of the average for the current year, totaling $2.5 billion for the week. CoinShares attributes this renewed optimism to recent announcements from high-profile ETP issuers that have applied for physically backed ETFs with the SEC. The total assets under management (AuM) now stand at $37 billion, the highest since before the collapse of Three Arrows Capital.

You might also like: Binance CEO comments on rumors behind crypto market volatility

Regarding market share, bitcoin products absorbed most inflows with $188 million, while short-bitcoin products experienced outflows for the ninth consecutive week.

Other digital assets, including ethereum and multi-asset ETPs, also saw a significant increase, receiving inflows of $7.8 million and $8.1 million, respectively. In the past week, altcoins such as XRP and Solana recorded minor inflows of $0.24 million and $0.17 million, respectively.

This data underscores institutional investors’ growing interest and confidence in the crypto market, driven by positive developments and regulatory advancements. However, it’s important to note that investing in cryptocurrencies involves a high degree of risk, and investors should exercise due diligence before making any investment decisions.

Read more: MicroStrategy’s Michael Saylor gives audacious forecast for bitcoin
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Tax Strategy for XRP: Lawyer Urges Caution Before Dipping for Altcoins

Jeremy Hogan advises crypto holders to be cautious of crypto tax as they optimize for profit in the bull run. He pointed out the tax advantages of not liquidating XRP held for over a year. Per the lawyer, long-term capital gains incur a lower 15% tax rate than the higher 30% rate for short-term gains. Prominent legal expert Jeremy Hogan, Partner at ‘Hogan & Hogan’ has offered counsel to crypto holders, urging caution in the disposition of their XRP assets. In a recent post on X, Hogan shared guidance with crypto investors looking to maximize their tax efficiency amid the anticipated crypto bull market. The lawyer’s counsel targeted crypto enthusiasts based in the United States. He advised considering the tax obligation on their crypto investment from the angle of the duration of the token holdings. Hogan pointed out that maintaining a token for over a year could result in a more advantageous tax scenario. He noted that long-term capital gains, applicable
Read more

Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval

BTC options expiry reveals short-term volatility post ETF approval. Bitbot’s presale on Jan 17 promises unprecedented excitement with self-custodial solutions. With a total supply of 1 billion tokens, Bitbot aims for a $1B market cap and top listings. As 2024 signals the potential start of a new bull run, the crypto market is buzzing with excitement. The recent Bitcoin ETF approval sparks short-term volatility, while Bitbot, a revolutionary Telegram trading bot, gears up for its token presale on January 17. In this article, we delve into the first anticipated Bitcoin options expiry post Bitcoin ETF approval and the upcoming Bitbot presale , exploring the potential for exhilarating opportunities in the evolving crypto landscape. First BTC Options expiry post Bitcoin ETF approval The approval of the Bitcoin Spot ETF on Wall Street has set the stage for unprecedented market movements. Despite the historical significance, Bitcoin’s price exhibits a muted r
Read more

MicroStrategy’s Saylor Sells $216M of His Shares to Buy More Bitcoin

MicroStrategy’s executive chairman, Michael Saylor, is selling $216 million worth of company shares. Saylor plans to use the proceeds to expand his personal Bitcoin holdings. The sell-off began with 5,000 shares on January 2, with 5,000 shares scheduled to be sold every trading day for the next four months. MicroStrategy‘s executive chairman, Michael Saylor, has begun selling $216 million worth of his shares in the company. The decision reveals Saylor’s intention to utilize part of the proceeds to expand his personal Bitcoin holdings. Saylor, a prominent advocate for cryptocurrency adoption, unveiled this plan in a filing with the U.S. Securities and Exchange Commission (SEC). The regulatory filing reveals that Saylor is selling 315,000 MicroStrategy shares acquired via stock options. 310,000 of these were granted in 2014 and are set to expire in April of this year. Saylor has already begun the sell-off, initiating the process with the sale of the first t
Read more