CDS Crypto News CoinShare Digital Asset Fund Report Shows $600 Million Inflows to ETFs
Crypto News

CoinShare Digital Asset Fund Report Shows $600 Million Inflows to ETFs

CoinShare digital asset fund report shows that ETFs continue to gain.

171
CoinShare Digital Asset Fund Report Shows $600 Million Inflows to ETFs

Crypto News – Though not at the startling rate of the previous week, the inflows have continued.

CoinShare Digital Asset Fund Report Shows $600 Million Inflows to ETFs

CoinShares, a digital asset manager, reported on Monday that investors were exposed to virtual coins and tokens last week through $598 million in hit funds. According to the research, the majority of that money went into Bitcoin ETFs, namely BlackRock’s iShares ETF and Fidelity’s Wise Origin Bitcoin Trust.

The report’s author, James Butterfill, head of research at CoinShares, stated that the report’s weaker-than-expected macro data likely contributed to the slowdown in inflows. Data that showed January’s inflation was greater than anticipated surfaced earlier this month. With the exception of Grayscale‘s new ETF, he continued, investors were still not cashing out considerably.

Grayscale Outflows Diminish, but Not Yet Over

After spot Bitcoin ETFs were approved, substantial withdrawals from Grayscale’s product—which had previously operated as a closed-end fund but was now an ETF—occurred, which caused the price of Bitcoin to plummet. Additionally, with $436 million leaving the fund last week, investors are still cashing out, albeit less than before.

The new issuer inflows more than offset house outflows. That’s to be expected and Grayscale outflows are slowing still,

Butterfill
CoinShare Digital Asset Fund Report Shows $600 Million Inflows to ETFs
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

USDG Stablecoin: Paxos Teams Up with Robinhood, Kraken, and Galaxy Digital

Paxos has launched the USDG stablecoin, backed by major financial firms like...

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Memecoins Explained: The Intersection of Internet Culture and Crypto

Binance Research's report analyzes the rise of memecoins, highlighting their cultural impact,...