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Buy the Bitcoin Dip? Investors Seize Opportunity and Drive $441M Inflows: CoinShares

Summary:
The recent price weakness triggered by Mt. Gox and the German Government’s selling pressure was likely perceived as a buying opportunity, as evidenced by the inflow of 1 million in digital asset investment products over the past week. During the same period, Exchange Traded Products (ETPs) recorded low volumes of .9 billion for the week, which is consistent with the usual summer dip. This also represents a 17% lower participation rate compared to the total market for trusted exchanges. Solana, Ethereum Flips Positive According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, Bitcoin attracted 8 million in inflows over the past week, accounting for 90% of the total, which is lower than the usual 99%. As such, investors were also observed

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The recent price weakness triggered by Mt. Gox and the German Government’s selling pressure was likely perceived as a buying opportunity, as evidenced by the inflow of $441 million in digital asset investment products over the past week.

During the same period, Exchange Traded Products (ETPs) recorded low volumes of $7.9 billion for the week, which is consistent with the usual summer dip. This also represents a 17% lower participation rate compared to the total market for trusted exchanges.

Solana, Ethereum Flips Positive

According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, Bitcoin attracted $398 million in inflows over the past week, accounting for 90% of the total, which is lower than the usual 99%. As such, investors were also observed opting to invest in a wider range of altcoins. Meanwhile, short-bitcoin products also witnessed $0.5 million inflows.

“Recent price weakness is likely seen as a buying opportunity with US$441m inflows.”

Solana was particularly notable as it recorded inflows of $16 million, pushing its YTD total to $57 million. Ethereum, too, witnessed an improved sentiment with $10 million in inflows, even as it remains the only ETP with net outflows YTD.

Meanwhile, investment products based on Litecoin saw $0.9 million in inflows over the past week, followed by XRP, Polkadot, and Cardano with inflows of $0.4 million, $0.2 million, and $0.1 million.

Despite the general recovery in sentiment, blockchain equities saw a further $8 million outflows during the same period, dragging its YTD outflows to $556 million.

Germany and Sweden Buck Positive Trend

Regionally, the US continued to lead the chart and saw $384 million in weekly inflows. CoinShares noted that “opportunistic buying” during the market-wide downturn in the first week of July was also seen across a broad set of countries, most notable were Hong Kong, Switzerland, and Canada, seeing $32 million, $24 million, and $12 million respectively.

Germany and Sweden, on the other hand, emerged as outliers to this trend and instead registered outflows of $23 million of $3.3 million respectively.

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