Institutional investors cooled on crypto investment products over the last few weeks on the backdrop of macro and regulatory uncertainty, says Coinshares Head of Research James Butterfill.
) investment products close behind with $5.6 million worth of inflows. Short BTC products represented the only other notable inflows of $2.1 million.
These inflows were offset by more than $3.5 million worth of outflows for investment products offering exposure to altcoins such as Polygon , Avalanche and Cardano , while multi-asset and Solana funds also shed $700,000 and $400,000 during that week. Commenting on the current state of the crypto market, and the institutional outlook of late, Markus Thielen, head of research and strategy at Singapore-based crypto financial services platform Matrixport noted that:
“The market is currently in a wait-and-see environment whereas a potential positive shift after the US Mid-Term elections could have significant regulatory changes.” “Last night’s US economic data, notably the ISM index, showed that growth has materially slowed down in the US economy and there is now the possibility that the Fed will become less hawkish. The USD rally appears to have lost one of its key drivers and this could signal a pause in rate hikes. This could be very bullish for digital assets into year-end,” he added.
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