Crypto asset manager CoinShares says institutional investors poured billions into digital asset investment vehicles last week alone in preparation for Donald Trump’s inauguration.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment vehicles raked in over $2 billion last week alone.
“Digital asset investment products recorded inflows of US$2.2bn last week amid the Trump inauguration euphoria, the largest week of inflows so far this year, bringing year-to-date (YTD) inflows to US$2.8bn.
Recent price rises have pushed total assets under management (AuM) to US$171bn, a new all-time high. Trading volumes on ETPs (exchange-traded products) globally remain high at US$21bn last week, representing 34% of total bitcoin trading volumes on trusted exchanges.”
The US regionally accounted for $2 billion of the inflows with Switzerland and Canada adding on $89 million and $13 million respectively.
Bitcoin (BTC) investment vehicles, per usual, raked in the lion’s share of inflows at $1.9 billion.
“Unusually, despite the recent price rises, we have seen minor outflows from short-positions of US$0.5m, while we typically see inflows after such positive price momentum.”
Ethereum (ETH) enjoyed inflows of $246 million over the same period, canceling out ETH’s poor outflows for most of the year.
“Regardless, it dwarfs Solana’s US$2.5m inflows last week.”
XRP products also saw inflows of $31 million.
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