The crypto investment products recorded entries totalling 15 million dollars last week, according to CoinShares. On the altcoinsinvestors have favored XRP and Solana at the expense of LINK, LTC and ETH.
This Monday, October 16, CoinShares has published its weekly report on inflows and outflows in the major crypto investment products.
According to the British asset manager, a total of $15 million entered products offered by GrayScale, ProShares, ETC Issuance, 21Shares and Bitwise last week.
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This is the third week in the green. The previous week, crypto products recorded ‘record’ inflows of $78 million.
A regional divide persists, with minimal inflows to the US, while Europe recorded net inflows totaling $7 million last week, with Sweden being the only country to experience outflows,” CoinShares commented.
Products on Bitcoin (BTC) alone recorded inflows of $16 million last week. The crypto manager says the data is “unlikely” to reflect recent “positive news” in the US regarding the SEC not appealing its lawsuit against Grayscale and its GBTC fund.
The altcoins suffered quite a bit last week, according to CoinShares, which cites outflows on Tezos (XTZ), Litecoin (LTC), Chainlink (LINK) and Ethereum (ETH) in particular.
Ethereum, despite the recent launch of a futures-based ETF, attracted little investor appetite, with outflows of $7.5 million last week, correcting much of the inflows seen the previous week. This may reflect lingering protocol design concerns,” the report reads.
Products on Ripple’s token, XRP, meanwhile, recorded inflows again, and for the 25th consecutive week. “Continued inflows underscore the support of the investment community, especially considering successful legal challenges against the SEC,” the manager explained.
Finally, inflows into Solana totaled $3.7 million. CoinShares recently reported that SOL was asserting itself as an “altcoin of choice” this year.
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