NFT News by Thebittimes.Com

CoinShares’ latest weekly inflow report shows a substantial increase in investor appetite for digital asset investment products with Bitcoin leading the rally. A recent surge in activity surrounding exchange-traded funds has led to the largest weekly inflow for digital asset investment products since July 2022, according to a June 26 report via CoinShares. Totalling $199 million, inflows for the week of 19–23 June turned around a nine-week string of consecutive outflows, with Bitcoin (BTC) representing the lion’s share at $187 million (94% of overall inflows). This week in Fund Flows, by @jbutterfill: A sharp shift to bullishness among investors, injecting US$199m in digital asset investment products. This marks the largest single weekly inflow since July ’22, correcting almost half of 9 consecutive weeks of outflows. (1/5) pic.twitter.com/TvZ0EM2KLU — CoinShares (@CoinSharesCo) June 26, 2023 CoinShares analysts attributed the reversal to increasing activity from exchang...

Until recently, institutions seemed to be washing their hands off crypto. As reported in several recent articles, flows were either negative or slightly positive, representing the “tepid investor appetite.” However now, looks like the trend has already changed. According to CoinShares’ latest weekly report, crypto-related investment products saw their largest inflows for 14 weeks, totaling $42 million. Per the report, “ The inflows began later in the week on the back of extreme price weakness prompted by the FTX/Alameda collapse. It suggests that investors see this price weakness as an opportunity, differentiating between “trusted” third parties and an inherently trustless system. “ As illustrated below, Bitcoin led the show and registered positive flows summing up to $19 million—the largest since early August this year. Alongside, alts have also started seeing renewed interest. Polygon ’s native token MATIC , for instance, managed to garner i...