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 <p>Digital assets manager CoinShares says institutions are pouring money into crypto exchange-traded products (ETPs) to the tune of $708 million weeks after the U.S. Securities and Exchange Commission (SEC) approved spot BTC exchange-traded funds (ETFs).</p>
 <p>In its latest Digital Asset Fund Flows&nbsp;report, CoinShares finds that crypto investment products saw massive inflows last week as Grayscale outflows slowed down a bit.</p>
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 <p><em>“Digital asset investment products saw large inflows totaling $708 million last week, bringing year-to-date inflows to US$1.6bn and total global assets under management to $53 billion. </em></p>
 <p><em>Trading volumes in ETPs fell to $8.2 billion compared to the prior week total of $10.6 billion, although remain well above the $1.5 billion week average in 2023.”</em></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://miro.medium.com/v2/resize:fit:4800/format:webp/1*9mdHRvY8ZA4BxcAMPTyZ1Q.png" alt="" width="1063" height="499">
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   Source: CoinShares Digital Asset Fund Flows Weekly Report
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 <p>Recently issued US-based ETFs enjoyed inflows of $1.9 billion over the last four weeks, according to the data. Such ETFs have seen nearly $7.7 billion in inflows since their approval by the SEC last month.</p>
 <p><em>“This has been offset by outflows from incumbent issuers, which total $6 billion, but data highlights a significant reduction in momentum of these outflows in recent weeks.”</em></p>
 <p>BTC products saw the overwhelming majority of the inflows at $703 million, while Ethereum (ETH) products suffered $6.4 million in losses. ETH-rival Avalance (AVAX) lost $1.3 million of outflows, while Solana (SOL) products brought in $13 million worth of inflows.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/708-000-000-in-institutional-money-hits-bitcoin-btc-and-crypto-etps-in-one-week-coinshares-tbt78966.html">https://thebittimes.com/708-000-000-in-institutional-money-hits-bitcoin-btc-and-crypto-etps-in-one-week-coinshares-tbt78966.html</a></p>

$708,000,000 in Institutional Money Hits Bitcoin (BTC) and Crypto ETPs in One Week: CoinShares

TheBitTimes

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