Following the approval and trading initiation of ProShares Bitcoin Futures ETF, the industry faced almost $1.5 billion inflows with the ETF bringing in $1.2 billion singlehandedly. But this week, U.S. inflows have cooled down to around $50 million, according to CoinShares.
Institutional investments in digital assets have totaled $288 million in the last week, making it almost $9 billion YTD. In comparison to the previous week, total funds invested have been reduced by approximately 20%.
The largest funds provided in the previous week were ETC Group and Purpose with a total of $151 million flowing into the industry. ProShares has only brought in $4.8 million, which indicates that the new futures-backed BTC ETF currently does not fit all institutional investors.
In terms of flows by asset, Bitcoin, as always, saw the majority of inflows at $269 million, which brings month-to-date inflows to $2 billion for October. More than half of the value of the monthly inflows has been reached thanks to ProShares ETF. In addition to U.S.-based companies, ETPs from Canada and Europe also faced funds inflows.
Etherum has finally broken the outflow week, totaling $17 million in inflows last week, with YTD inflows remaining at $1 billion. Thanks to the strong positive performance of the altcoin market, Ethereum's market share has risen back to 32%.
Other altcoins like Solana, Cardano and Polkadot also faced inflows, as well as Ethereum, totaling $26 million. Multi-asset investment products are the only products that faced outflows totaling $23 million. The main reason for this is the popularity of specific products that bring something unique to the market like Polkadot, Bitcoin or Solana.
Valeria Blokhina
Vladislav Sopov
Alex Dovbnya
