Institutions Turned Bullish on Crypto in July with 2022’s Strongest Inflows of $474,000,000: CoinShares

Institutions Turned Bullish on Crypto in July with 2022’s Strongest Inflows of $474,000,000: CoinShares

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Institutions opted to buy back into crypto throughout July, according to leading digital assets manager CoinShares.

Digital asset investment products witnessed a total of $474 million worth of inflows throughout July, the highest total of any month in 2022, per CoinShare’s latest Fund Flows Weekly report.

The monthly total almost matched June’s $484 million worth of outflows, with the last week of July witnessing $81 million worth of inflows, a fifth consecutive week of inflows.

Nearly $85 million flowed into Bitcoin (BTC) investment products last week, bringing the top crypto asset’s total inflows to $306.3 million in July and $326.1 million in 2022.

Source: CoinShares

Ethereum (ETH) investment products witnessed only $1.1 million in inflows last week, bringing ETH’s monthly total to $137.9 million. Ethereum investment products, however, still have $314.9 million worth of outflows in 2022.

Solana (SOL) investment products were more favored among investors, with $1.5 million worth of inflows last week. SOL remains the favorite investment product among all altcoins, with $114 million worth of inflows in 2022.

However, it’s not all bullish metrics, according to CoinShares.

“Despite a more bullish mood in digital assets, trading activity remains very low, with last week’s volumes totaling $1.3 billion compared to this year’s weekly average of $2.4 billion.”

BTC is trading at $22,816 at time of writing. The top-ranked crypto asset by market cap is down nearly 2% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Everyonephoto Studio/Sensvector

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