According to digital asset manager CoinShares, digital asset investment products or crypto funds saw a total inflow of $184 million last week (as of December 3), although sharp price weakness in the last week led to an outflow of $40 million late Friday. Happened. However, overall flows suggest that investors continue to view the recent price weakness as a buying opportunity.
Bitcoin Opened last week at $54,815 and reached highs of $59,041, showing a decline of over 30%, before dropping to lows of $45,032 on Saturday. The crypto market has seen a major sell-off over the past few sessions amid inflation forcing central banks to tighten monetary policy.
Bitcoin saw a total inflow of $145 million last week, however, it ended the week with an outflow of $42 million on Friday and bore the brunt of investor shock.
“Bitcoin volume increased to $15 billion for Friday, up from $8 billion a day on average for November and December. We did not see a significant increase in investment product volume, which stood at $5.8 billion for the full week,” CoinShares reported. said in a report.
Ethereum, the world’s second largest digital asset, saw a total inflow of $25 million, but like bitcoin, saw a modest outflow of $4.7 million last Friday.
According to the report, Polkadot, the coin that helps to interoperate various blockchains, saw a total outflow of $3 million last week. Most of the outflows came in the latter part of the week, the report said, but it could also be due to uncertainty surrounding the Parachain auction, which will be finalized on December 17. Parachain auctions are auctions conducted on Polkadot.
Solana saw steady inflows totaling $4.6 million for the week, which appears to be unaffected by the recent price volatility.
In terms of crypto fund providers, the world’s largest digital asset manager, Grayscale, held steady with total assets under management (AUM) of $50.99 billion, followed by CoinShares with an AUM of $5.88 billion and 3iQ with an AUM of $2.65 billion. .
The total assets under management (AUM) of crypto fund providers stood at $73.04 billion for the week.
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