Institutional investors are turning to digital gold, and Bitcoin (BTC) investment products have flowed in for the third consecutive week.
According to the latest news from CoinShares Digital Asset Fund Weekly Report reportBetween September 27 and October 1, BTC investment products generated capital inflows worth US$68.7 million, an increase of 36% on a weekly basis.
Although products tracking BTC have now dominated the inflow of digital asset products for two consecutive weeks, Bullish turn For eight consecutive weeks until the beginning of September, record capital outflows reappeared.
The total inflow of digital investment products this week was US$90 million, marking Seventh consecutive week As institutional investors continue to increase their exposure to digital assets, capital inflows increase.
Institutional investors also snapped up a large number of Ethereum (ETH) investment products, with a total inflow of US$20.2 million. BTC and ETH products rose by approximately 7.4% and 3.2% respectively this week.
The interest in altcoins was also mixed last week. Products tracking Cardano (ADA) and Solana (SOL) inflows were US$1.1 million and US$700,000, respectively, while Polkadot (DOT) and Binance Coin (BNB) funds each decreased by US$800,000. The inflow of multi-asset funds was also the lowest, at $1.9 million.
Institutional demand for Solana seems to have bottomed out. Since its release, the inflow of products tracking SOL has dropped by 98% Up to 38.9 million US dollars Five weeks.
Although the market recovered from the sharp correction in July, CoinShares emphasized that compared with the value of institutional crypto products traded weekly at the peak of the 2021 bull market cycle in mid-May, the trading volume was still US$2.4 billion last week.
According to CoinShares estimates, institutional asset management companies currently represent a combined total asset under management (AUM) of US$57.1 billion-a weekly increase of 8.5%.
Grayscale continues to dominate the industry, accounting for US$41.1 billion or 71% of the industry’s total asset management scale. CoinShares XBT and Purpose Fund ranked second and third with assets under management of US$2.2 billion and US$2.1 billion, respectively.