Global crypto funds see $474 million inflows in July: Report
Premium- Crypto funds almost recovered all of the June month outflows, which totalled $481 million
Despite choppy crypto markets, global digital asset funds logged net inflows totalling $474 million during July (till 29 July), highest this year, according to a report by digital asset manager CoinShares.
Crypto funds almost recovered all of the June month outflows, which totalled $481 million.
Despite a more bullish mood in digital assets, trading activity remained very low, with last week’s volumes totalling $1.3 billion compared to this years weekly average of $2.4 billion.
Still, July was a decent month for crypto assets, as bitcoin recovered by around 15% during the month and ethereum rose around 50%.
According to CoinShares, crypto funds saw inflows totalling $81 million last week, signifying the fifth consecutive week of inflows totalling $0.53 billion, or 1.6% of total assets under management (AUM).
Regionally, the majority of inflows were from North America with inflows from both the US and Canada totalling $15m and $67 million, respectively. Brazil and Sweden both saw minor outflows.
Bitcoin saw inflows totalling $85 million last week while short-bitcoin (a bet that the price will continue to fall) saw outflows totalling $2.6 million, the first week of outflows after the recent bear market saw a five-week run of inflows.
Multi-asset investment products, unusually, saw outflows for the second consecutive week totalling $3.7 million, suggesting investors are becoming more targeted in their investment.
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Solana saw minor inflows totalling $1.5 million, remaining the investor favourite for this year with year-to-date inflows totalling $114 million. Polkadot also saw inflows totalling $0.4 million last week.
In terms of individual crypto fund providers, the world’s biggest digital asset manager, Grayscale had a total AUM of $21.46 billion, followed by CoinShares at $2.11 billion and 21Shares with an AUM of $1.15 billion. The total AUM of crypto fund providers was at $32.53 for the week ended 29 July 2022.
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