European Digital Asset Manager CoinShares Reports Crypto Investment Products Saw Inflows of $489M in Past Week

James Butterfill, Investment Strategist at London-based CoinShares, a digital asset manager focused on expanding access to the cryptocurrency ecosystem while serving as a “trusted partner” for its clients, notes in a blog post published on Tuesday (May 4, 2021) that digital asset investment products saw inflows of $489 million this past week.

This figure marks the largest inflow since February 2021, Butterfill confirmed. He also mentioned that the high inflows “conceal varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows.”

Butterfill added:

“The varied inflows are primarily Bitcoin focussed, where we believe some investors are beginning to take more optimistic positions after having range traded since February, while others have capitulated and taken profits.”

He also noted:

“Looking at individual digital assets, the greatest inflows were into Bitcoin with US$442m. The positive sentiment continued in Ethereum with inflows of US$30m, bringing total investment products under management to a record $13.9 billion.”

He added that XRP, Polkadot (DOT), Binance and Cardano (ADA) products all “saw minor inflows while multi-asset investment products saw inflows of $9.2 million last week.”

Bitcoin Cash (BCH) saw “outflows of $1.7 million which represents around 10% of assets under management,” Butterfill added while noting that it remains “a laggard relative to other digital assets reflecting investor concerns as it falls out of the top 10 digital assets.”

You can check out the complete report from CoinShares here.

As covered last week, CoinShares reports that “poor sentiment” for Bitcoin led to low inflows of $1.3 million, “masking improving appetite” for Ethereum, the world’s second-largest crypto by market cap. As reported on April 20, 2021, CoinShares had revealed that XRP had seen inflows of $33 million, almost doubling its AUM.

As covered last month, CoinShares revealed it had crossed the $5 billion in assets threshold on its two ETP platforms. CoinShares claims to be Europe’s largest digital asset investment house, managing billions of assets on behalf of a global client base. The company’s mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing the new asset class.

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