Turn to bullish?The institution became a net buyer of cryptocurrency for the first time in 5 weeks

Follow their The longest consecutive sell-off since February 2018Last week, institutional managers became net buyers of digital asset funds, expressing cautious optimism that the worst selling period in the market has passed.

Inflows into a digital asset fund dedicated to Bitcoin (Bitcoin), ether (EthereumCoinShares said in its latest report that in the week ending July 2nd, the total revenue of other companies was $63 million. For the first time in nine weeks, all personal digital assets have dedicated funds inflow.

The weekly inflow of funds dedicated to Bitcoin is 38.9 million U.S. dollars, bringing the total year-to-date funds to 4.186 billion U.S. dollars. CoinShares revised the total for the previous week to reflect a small increase in net investment.

The Ether Fund inflows USD 17.7 million per week, bringing its year-to-date total to USD 960 million, and has stopped outflow for three consecutive weeks.

Funds investing in Polkadot and XRP have inflows of US$2.1 million and US$1.2 million, respectively.

Although multi-asset funds have positive inflows every week, the total amount is much lower than in previous weeks, which indicates that investors are reinvesting in Bitcoin.

Grayscale, the world’s largest digital asset management company, Report Last week, its total assets under management reached 29.8 billion U.S. dollars. Some analysts worry that after the expiration of Grayscale’s GBTC lock-up period, the crypto market may encounter headwinds in the next few weeks, allowing investors to sell shares.

related: Grayscale’s large GBTC will be unlocked within two weeks. Is there a risk of losing $30,000 in Bitcoin?

Institutional buyers have played an important role in the recent bull market in cryptocurrencies, and they have also been Sources of volatility during the declineAs Cointelegraph reported in May, Grayscale’s Michael Sonnenshein, Amber Group’s Jeffrey Wang and Tyr Capital’s Edouard Hindi believe that financial advisors can Expand institutional adoption move forward.