According to CoinShares, institutional crypto investors showed only minor inflows of capital into digital asset investment products last week.
In the most recent Digital Asset Fund Flows report, CoinShares noted that Solana (SOL) institutional crypto investment products experienced record outflows amid a decline in interest in memecoins.
“Solana saw outflows of US$39m, the largest on record, as it faced a sharp decline in trading volumes of memecoins, on which it heavily relies.”
CoinShares also highlighted a significant drop in trading volumes for institutional investment products last week, attributed to changing expectations regarding the Federal Reserve’s next actions.
“Weekly trading volumes on investment products fell to nearly 50% of the week prior at US$7.6bn, as recent macroeconomic data implied the FED were less likely to cut interest rates by 50 basis points in September.”
In terms of regional flows, the Americas saw $78.4 million in inflows, while Switzerland and Hong Kong combined for $44 million in outflows. Bitcoin (BTC) led investment products with $42 million in inflows.
Additionally, ETH and XRP products attracted $4.2 million and $0.2 million respectively, while multi-asset investment vehicles saw $21 million in inflows.
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