What does CoinShares say in its latest weekly report on Bitcoin flows?

lupafilotaxia (75)in Project HOPE • 2 years ago

Hello my dear and faithful readers, let this opportunity serve to socialize the data from CoinShares in its latest weekly report, which records outflows from Bitcoin and other cryptocurrency funds for an estimated close to $23 million, an element that has been associated with the collapse of FTX.

According to the CoinShares report the capital inflows and outflows of major ETFs as well as other Bitcoin and cryptocurrency funds. While there was a net outflow of $23 million last week, according to the report, $34.4 million has flowed into the funds so far this month.

The Swiss-issued Bitcoin investment vehicle, 21Shares, is found to be the most affected, with $25.2 million in outflows. The US-issued Bitcoin futures-based ETF, ProShares, shows an inward flow of $9.4 million. Since the beginning of the year, the total capital flow into the funds has been $525 million, according to CoinShares.

It is important to note Grayscale's weight among bitcoin and cryptocurrency funds, which total about $22.139 billion in assets under management. Of that total, Grayscale manages $14.544 billion or 65%. The largest weight is held by the GBTC Vitcoin fund, which manages approximately $11 billion.

The truth is that Bitcoin records an incoming capital of $321.7 million, while ETH records an outgoing capital of $375.1 million. Taking into account the increased investor interest in Bitcoin, the capital outflow of $10.1 million is insignificant with respect to the total invested in BTC this year.