Crypto funds soar: unveiling the $1.8B mystery surge

Crypto funds soar: unveiling the $1.8B mystery surge

user avatar

by Liza Tanasova

3 years ago


Last week witnessed another surge in crypto fund inflows at major asset managers, including 21Shares, Bitwise, CoinShares, Grayscale, and ProShares, adding an additional $43 million. This marks an impressive 11-week streak, accumulating a total of $1.8 billion, according to the latest report from CoinShares.

Bitcoin-focused funds remained in the spotlight, attracting $20 million in inflows last week, contributing to its year-to-date total of $1.7 billion. Despite this, the overall inflows showed a significant decrease compared to the previous two weeks, which saw $176 million and $346 million, respectively. Ether investment products experienced a positive turnaround, with inflows of $10 million, continuing a six-week streak that reversed year-to-date outflows of $125 million to $19 million in total inflows.

Solana and Avalanche-based funds retained their popularity among investors, with inflows of $3 million and $2 million, respectively, according to James Butterfill, CoinShares Head of Research. In terms of regions, Europe dominated with reported inflows of $43 million, while the United States recorded $14 million in inflows, with half directed towards short positions. Hong Kong witnessed a second consecutive week of outflows, totaling $8 million, and Brazil experienced outflows of $4.6 million.

Notably, there was a significant increase of $8.6 million in short Bitcoin position inflows, more than double the previous week's figure, driven by recent price appreciation and perceived downside risks, as highlighted by James Butterfill. Recent market fluctuations and perceived risks resulted in the liquidation of over $94 million in Bitcoin positions on centralized exchanges, with the majority ($85 million) being longs. This contributed to a total of $360 million in liquidations across various platforms, with Bitcoin experiencing a temporary 10% dip on some exchanges before rebounding to its current trading value of around $42,364.

Blockchain equities continued their eight-week streak, registering their largest weekly inflows on record at $126 million. Bitcoin mining firms Bitfarms and Core Scientific saw significant gains of 46.2% and 43.5%, respectively, while Argo Blockchain (31%) and Terawulf (20%) also posted notable increases. However, Cipher Mining faced a loss of 4.3%, and Hut 8's stock fell by 3.9%.

Coinbase and MicroStrategy stocks underperformed compared to Bitcoin, rising 1.5% and 5.1%, respectively, in contrast to Bitcoin's 6.6% gain. Bitcoin mining hardware manufacturers Canaan had a challenging week, sliding 19%, joining Galaxy (-1.62%) and Bakkt (-3.80%) as some of the few crypto-related stocks that lost value last week.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Red Team Established to Tackle AI-Driven Security Threats

chest

The Bitcoin Red Team has been established to proactively identify AI-assisted security vulnerabilities in the Bitcoin ecosystem.

user avatarTando Nkube

TON Validators Prepare for Configuration Vote on New Collator Architecture

chest

TON validators are updating their node software and mytonctrl tooling for a configuration vote on a new collator architecture scheduled for August 21 at 0800 UTC.

user avatarKofi Adjeman

Aave's EMode: Efficiency and Risk in DeFi Lending

chest

Aave's EMode feature allows for efficient borrowing among correlated assets but also increases the risk of liquidation during market stress.

user avatarSatoshi Nakamura

Avalanche Surpasses $3 Billion in Tokenized Real-World Assets

chest

Avalanche's tokenized real-world asset value has surpassed $3 billion, marking a significant milestone in its development as a platform for institutional finance.

user avatarNguyen Van Long

Aave's Debt Concentration Raises Concerns Amid Ethereum Volatility

chest

Aave's debt profile shows that a small number of loan positions account for a significant portion of its total outstanding debt, raising concerns about risk concentration.

user avatarJesper Sørensen

Shift in Airdrop Strategy Reflects Changing Market Dynamics

chest

Optimism's decision to reallocate tokens indicates a shift away from broad airdrops towards more strategic ecosystem investments.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.