Crypto Investment Products Received $30M Positive Flow Last Week

Crypto investment products closed the past week (from August 12 to August 16) with positive gains, receiving a combined weekly net inflow of $30 million.

According to data from CoinShares, Bitcoin was the major beneficiary, with a weekly net inflow of $42 million, thanks to US spot Bitcoin ETFs, which received a $32.58 million inflow last week. However, short-Bitcoin ETFs experienced negative flows for the second consecutive week, totaling $1 million. During the previous week (August 5 – August 9), short-Bitcoin ETFs saw larger outflows of $16 million.

Trailing Bitcoin’s $42 million inflow is Ethereum, with a smaller net inflow of $4.2 million. This flow masked some activities between providers, with new issuers amassing $104 million in inflows, while Grayscale experienced $118 million in negative flows.

Solana Sees Highest Outflow in History 

On the other hand, Solana experienced a net outflow of  $39 million, the highest in history. Analysts attributed this to a significant drop in trading volumes of memecoins, on which the network heavily relies on.

Meanwhile, crypto investment products had mixed inflow from a regional perspective. The US, Canada, and Brazil recorded flows of $62 million, $9.2 million, and $7.2 million, respectively, reflecting investors’ positive sentiments in the American nations.

In contrast,  Switzerland, Hong Kong, and Germany experienced outflows of $30 million, $14 million, and $6 million, respectively, suggesting a cautious stance from investors in Europe and Asia.

Trading Volume Drops 50%

The weekly trading volume of the investment products dropped significantly by approximately 50% to $7.6 billion compared to the previous week. 

The latest flow data marks a significant drop of 83% from the $176 million inflows received by the investment products during the previously reported trading week. This decline suggests a cooling of investor enthusiasm or a shift in market sentiment.

At the time of writing, bitcoin was hovering around $58,000, marking a 3% decline on the day. On the other hand, Ether traded at $2,581, representing a more than 2% decrease in the past 24 hours.