Crypto investments products see inflows of $474M in July

CryptoSlate

Digital asset investment products recorded their best month in July after finishing the month with total inflows of $474 million, according to CoinShares Digital Asset Fund Flows Weekly Report.

The report revealed that digital asset investment product inflows for the week starting July 25 were $81 million.

It marked the fifth consecutive week of inflows and brought the total inflows within that period to $530 million.

These inflows are a sharp turnaround in the market direction after a red June saw total outflows of $481 million.

How To Get Free Crypto  

The turnaround comes after the broader crypto market regained the $1 trillion mark and flagship digital assets slightly recovered from the bear market.

Short Bitcoin positions record first outflow in 5 weeks

Short Bitcoin position recorded its first outflow in five weeks as investors withdrew $2.6 million –suggesting that the bearish market sentiments are easing up.

On the other hand, Bitcoin (BTC) investment products had the most inflows, with almost $85 million invested by institutional investors.

Ethereum (ETH) continued with its positive flows, as it posted $1.1 million in inflow. Other altcoins like Solana (SOL) recorded $1.5 million in inflows, while Litecoin (LTC) saw $100,000 in inflows.

Coinbase Banner  

However, there was an unusually bad week for multi-asset investment products, with outflows of $3.7 million. It is the asset class’ second consecutive week of outflows, finishing the month with $400,000 in outflows.

Purpose lead service providers’ inflow

Most of the inflows for the week of July 25 came from Purpose with $60.3 million. Other providers like 21Shares, ProShares, and CoinShares contributed the remaining $20.8 million in inflows.

Only CoinShares XBT recorded $2.9 million outflows, finishing the month with outflows of $10.2 million.

Northern American investors are bullish

Geographically, Canada was responsible for the most inflows during the week of July 25 with $67.1 million, while Switzerland had the most inflows with $356 million.

For context, the US recorded only $56 million in inflows through July.

Brazil also saw minor outflows of $3.3 million, while Sweden continues to record outflows and finishes the month in the red.

FreeBitcoin Banner  

Meanwhile, trading activity last week was $1.3 billion, far below the $2.4 billion average for the year.

Posted In: Bitcoin, Analysis

Go to Source
Author: Oluwapelumi Adejumo


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.