Last week showed a huge and record influx of institutional money into crypto funds. This is evidenced by#Coinsharesanalytics data.
The reason for this is of course the spot Bitcoin ETFs in the US. But we will also pay attention to inflows from other assets to see which altcoins are receiving capital from major players.
So, over the past week, February 10-16, the influx into the crypto industry amounted to a record $2.45 billion. This is truly a historical record. In comparison, the impressive influx of more than a billion dollars in January now looks like a modest start.
Of this amount, $2.42 billion went to products focused on #BTC. Almost everything.
Other important movements:
- Inflows into funds focused on short BTC amounted to +$5.8 million. In the two previous weeks before this, there were outflows of -$0.4 million and, even earlier, -$5.3 million. It looks like institutions are slowly trying to short #BTC, as we predicted last Monday.
- The inflow into products focused on#ETHamounted to $21.1 million (last week +$16.5 million, positions are being built up).
- For other altcoins, there is an outflow from#ADAof $5.9 million and an outflow from#SOLof $1.6 million. According to #SOL, this is a reason to be careful with longs. But on February 15, we already warned that the growth of the asset was showing signs of weakness and the full development of P&P was under threat. For#XRPand#LTCthere are minor inflows, so far unremarkable.
If we talk about the products themselves, the top ones are still the spot Bitcoin ETFs from #BlackRock, #Fidelity, #Grayscale, and#ArkInvesthas been added to them. Plus, the sales pressure from #Grayscale, as we already wrote, is weakening. Hence the record inflows.
Geographically, the leader in inflows at the end of the week is the United States, everything is clear here. Switzerland is in second place, followed by Germany. The largest outflow is shown by Sweden, the minimal by Canada.
