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July Marks Strongest Month of Crypto Fund Inflows This Year: CoinShares
Digital-asset investment products saw inflows of $474 million last month, reversing June’s $481 million of outflows.
Crypto funds saw a fifth consecutive week of inflows, with net inflows of $81 million in the seven days ended July 29, according to a CoinShares report on Monday. July’s $474 million of inflows were the largest monthly amount this year and reversed June’s outflows of $481 million.
Bitcoin (BTC) investment products saw $85 million in inflows last week, while short-bitcoin positions, which bet on a price decline of the largest cryptocurrency by market capitalization, saw $2.6 million in outflows.
STORY CONTINUES BELOW
Altcoin funds saw mixed movement with $1.5 million of inflows for Solana and $700,000 of outflows for Cardano. Ether-focused funds saw inflows of $1.1 million.
Multi-asset investment products saw outflows for the second consecutive week, with $3.7 million in outflows. CoinShares attributed the outflows to investors “becoming more targeted in their investment.”
Regionally, most inflows came from North America, with U.S inflows totaling $15 million and Canadian inflows totaling $67 million. Brazil and Sweden both saw outflows of less than $5 million.
Despite a bullish mood among crypto fund investors, trading activity has remained low. Last week’s trading volume was $1.3 billion, compared with this year’s weekly average of $2.4 billion.
