Digital asset investment products posted their best month in July after closing the month, with total inflows of $474 million, according to the company. CoinShares Digital Asset Fund Flow Weekly Report.
The report revealed that the inflow of digital asset investment products for the week starting July 25 was $81 million.
It was the fifth consecutive week of inflows, bringing the total inflows for the period to $530 million.
These inflows mark a sharp shift in market direction after a deficit June saw outflows totaling $481 million.
The turnaround comes after the broader cryptocurrency market has regained the $1 trillion mark and major digital assets have recovered slightly from the bear market.
Bitcoin short positions record first outflow in 5 weeks
Bitcoin short positions recorded their first outflow in five weeks as investors withdrew $2.6 million.
Meanwhile, Bitcoin (BTC) investment products received the most inflows, with approximately $85 million invested by institutional investors.
Ethereum (ETH) continued its positive run as it registered an inflow of $1.1 million. Other altcoins such as Solana (SOL) saw him record $1.5 million inflows, while Litecoin (LTC) recorded his $100,000 inflows.
But it was an unusually bad week for multi-asset investment products, with $3.7 million outflow. This asset class outflow is his second straight week, ending the month with a $400,000 outflow.
Purpose Influx of major service providers
Most of the inflows for the week of July 25 were $60.3 million from targets. Other providers such as 21Shares, ProShares and CoinShares contributed the rest of his $20.8 million inflow.
Only CoinShares XBT recorded a $2.9 million outflow, ending the month with a $10.2 million outflow.
North American investors are bullish
Geographically, Canada had the most inflows in the week of July 25 with $67.1 million, while Switzerland had the most with $356 million.
For context, the US only registered $56 million in inflows through July.
Brazil also saw a smaller outflow of $3.3 million, while Sweden continued to record outflows and ended the month in the red.
Meanwhile, last week’s trading activity was $1.3 billion, well below the annual average of $2.4 billion.