CoinShares: Amid The Crypto Bear Market, Institutional Investors Scoop Up Bitcoin

Positive inflows into digital asset investment products were recorded last week. Though the gains were primarily concentrated in Bitcoin (BTC) funds. Indicating a more cautious approach to crypto allocation on the part of institutional investors. 

iexclusivenews reports that according to CoinShares’ latest fund flows report, bitcoin investment products saw cumulative inflows totaling $126 million in the week ending Saturday.

Bitcoin investment funds have quietly added $506 million in net inflows year to date. 

This online news outlet understands that investors appear to be favoring Bitcoin over Ether (ETH) and other altcoins.

Outflows from ether funds totaled $32 million, marking the ninth week of declines. This year, outflows from Ether investment products totaled $357.4 million. 

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Meanwhile, iexclusivenews Nigeria reports that multi-asset crypto fund investments increased by $4.3 million last week, bringing the year-to-date total to $201.3 million. 

Grayscale is still the largest digital asset manager, with over $27 billion in assets under management. The Grayscale Bitcoin Trust, also known as GBTC, accounts for roughly 99 percent of Grayscale’s total assets. 

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Crypto assets have been in a prolonged slump for much of 2022, unable to escape the gravitational pull of traditional financial markets. The Bitcoin Concern & Greed Index saw nine straight weekly falls, the longest in history, as investor sentiment entered a sustained phase of “severe fear.” 

June 6, last week, and last month: Bitcoin’s Fear & Greed Index has been in the extreme-fear territory. 

Bitcoin averted its ninth consecutive negative week by finishing at $29,900 on Sunday, a measly $450 higher than the previous week. 

Massive inflows for the Canadian #Bitcoin Purpose spot ETF. 🔥 6.9k $BTC have been added to the fund yesterday. By far the biggest inflow we have seen (2nd largest was 2.9k BTC). AUM is at a new all-time high of 41.6k BTC.

Someone bought that cheap bitcoin. 💪 pic.twitter.com/zDkhcjlP1V

— Jan Wüstenfeld (@JanWues) May 13, 2022

However, there are some encouraging indicators that institutional investors are buying the drop. In addition to the CoinShares report, Purpose Investments’ Canadian spot Bitcoin exchange-traded fund picked up thousands of BTC last month. By May 13, the Purpose Bitcoin ETF had reached its all-time high in Bitcoin holdings, with 41,600 BTC. 

 cointelegragh