According to the Fund Flows Weekly Report, digital asset investment products had their best month in July, with total inflows of $474 million.
According to the report, digital asset investment product inflows totaled $81 million for the week beginning July 25. It was the fifth consecutive week of inflows, bringing the total for the period to $530 million.
These inflows represent a sharp change in market direction following a red June that saw total outflows of $481 million.
The recovery comes after the broader crypto market reclaimed the $1 trillion mark and flagship digital assets recovered slightly from the bear market.
Short Bitcoin positions experience their first outflow in 5 weeks
Short Bitcoin positions saw their first outflow in five weeks, with investors withdrawing $2.6 million, indicating that bearish market sentiments are easing.
Bitcoin (BTC) investment products, on the other hand, saw the most inflows, with nearly $85 million invested by institutional investors.
Ethereum (ETH) continued to see positive inflows, with a $1.1 million inflow. Other altcoins, such as Solana (SOL), received $1.5 million in inflows, while Litecoin (LTC) received $100,000.
However, multi-asset investment products had an unusually bad week, with outflows of $3.7 million. It is the asset class’s second consecutive week of outflows, with $400,000 in outflows for the month.
Inflow of purpose-led service providers
Purpose received $60.3 million in inflows during the week of July 25. The remaining $20.8 million in inflows came from other providers such as 21Shares, ProShares, and CoinShares. Only CoinShares XBT saw outflows of $2.9 million, bringing the month’s total to $10.2 million.
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