Crypto products hit with $305M outflow amid strong US economic data

CoinShares expects that crypto investment products will become increasingly sensitive to interest rate expectations in September.

View Details

CoinShares revenue surges 110% in Q2, driven by FTX claim sale

CoinShares revenue for the second quarter of 2024 rose to nearly $28.5 million. FTX bankruptcy proceedings generated a return of 116% in the quarter.

View Details

Crypto products shed $528M amid recession fears CoinShares

As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.

View Details

Bitcoin sees $543 million in inflows after Powells dovish remarks

According to CoinShares’ latest weekly fund flow report, crypto investment products saw their largest inflows in five weeks, with $533 million pouring into the sector. James Butterfill, head of research at CoinShares, explained that these inflows followed remarks by US Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium last week. At the event, […]

The post Bitcoin sees $543 million in inflows after Powell’s dovish remarks appeared first on CryptoSlate.

View Details

Crypto investment products see largest inflows in 5 weeks

The Bitcoin price increased 8% amid BTC investment products seeing $543 million in inflows last week.

View Details

Ethereum accounts for 88% of crypto investment products $176 million inflow

Crypto investment products experienced significant inflows of $176 million as investors capitalized on recent price dips, according to CoinShares‘ latest weekly report. James Butterfill, the head of research at CoinShares, noted that the total assets under management (AUM) for crypto ETPs dipped to $75 billion amid the correction but have rebounded to $85 billion as […]

The post Ethereum accounts for 88% of crypto investment products’ $176 million inflow appeared first on CryptoSlate.

View Details

Ethereum Leads The Charge as Weekly Crypto Inflows Hit $176MCoinShares

Latest data from crypto asset manager CoinShares has shown a noticeable comeback in the crypto market. In its latest ‘digital asset fund flows weekly report,’ the asset manager revealed that last week marked a significant uptick in investor confidence, as digital asset investment products saw $176 million in inflows. According to James Butterfill, head of [...]

The post Ethereum Leads The Charge as Weekly Crypto Inflows Hit $176MCoinShares appeared first on Crypto Breaking News.

View Details

Bitcoin weakness spurs $441M digital asset inflows

Digital asset investments see significant inflows of $441 million, driven by Bitcoin price weakness, Mt. Gox activity and a German government sell-off, according to a CoinShares report.

View Details

Texas Bitcoin Mining Operations Undergo Intensive Due Diligence

CoinShares' research team evaluates major Bitcoin mining facilities in Texas, highlighting innovations and industry growth. (Read More)

View Details

Ethereum ETFs see $2.2B in inflows as Bitcoin gains political backing

CoinShares revealed that digital asset investment products experienced net inflows of $245 million last week. According to the company’s weekly report, the trading volume for exchange-traded products (ETPs) rose to its highest level since May, at $14.8 billion, thanks to the launch of spot Ethereum ETFs in the US. Total assets under management (AUM) for […]

The post Ethereum ETFs see $2.2B in inflows as Bitcoin gains political backing appeared first on CryptoSlate.

View Details

Ethereum ETF launch drives $2.2B inflows CoinShares

CoinShares reports that spot-based Ether ETFs debut with a significant $2.2 billion of inflows, offset by Grayscales $285 million in net outflows.

View Details

Last Weeks Crypto Inflows Surge to $1.35 Billion: Which Digital Asset Led the Charge?

The global crypto investment market has witnessed a significant influx of capital, with recent reports indicating a continued positive trend in inflows. According to the latest data from CoinShares, digital asset investment products have seen an additional $1.35 billion in net inflows last week. This recent injection of funds has brought the total for the [...]

The post Last Weeks Crypto Inflows Surge to $1.35 Billion: Which Digital Asset Led the Charge? appeared first on Crypto Breaking News.

View Details

US leads $1.35B weekly surge in digital asset inflows CoinShares

CoinShares reports an unprecedented inflow into digital asset investment products, signaling growing investor confidence and positive market sentiment.

View Details

Bitcoin Dominates as Crypto Funds Attract $1.44 Billion in Fresh Capital, Rally To Begin?

Following Bitcoin’s gradual rebound seen last week, the global crypto investment products also appear to have witnessed a notable influx of funds, with a substantial $1.44 billion pouring in over the same period. According to CoinShares, a leading crypto asset management firm, this surge has pushed the year-to-date total to top roughly $17.8 billion, highlighting [...]

The post Bitcoin Dominates as Crypto Funds Attract $1.44 Billion in Fresh Capital, Rally To Begin? appeared first on Crypto Breaking News.

View Details

Crypto Inflows Surge Drastically: $1.4 Billion in One Week

Last week, global crypto investment products saw a surge in net inflows, totaling $1.44 billion. This data comes from CoinShares’ latest report. Major asset managers like Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares all contributed to this growth. This influx marks one of the largest weekly net inflows on record. Year-to-date figures now […]

View Details

Digital assets see record $17.8 billion YTD inflows as Bitcoin and Ethereum lead the charge

Digital asset investment products experienced consecutive inflows this month, with $1.44 billion recorded last week, per CoinShares‘ latest weekly fund flow report. This recent inflow raised the year-to-date total to a record $17.8 billion, surpassing the $10.6 billion inflows of 2021. However, trading volumes stayed low at around $8.9 billion, compared to the seven-day average […]

The post Digital assets see record $17.8 billion YTD inflows as Bitcoin and Ethereum lead the charge appeared first on CryptoSlate.

View Details

Ethereum Records Largest Weekly Outflow Since August 2022

Crypto investment products record another streak of outflow for the third consecutive week, totaling $30 million, with Ethereum losing $61…

The post Ethereum Records Largest Weekly Outflow Since August 2022 first appeared on The Crypto Basic.

View Details

Crypto fund inflows hit $2B in May led by BTC CoinShares

Weekly inflows into crypto funds totaled $185 million for the last week in May, with monthly investment fund inflows reaching $2 billion.

View Details

True Correction Underway? Over $500 Million Exits Bitcoin ETFs Coinshares

Recent data from CoinShares points to a significant shift in investor sentiment regarding Bitcoin, marked by a substantial $544.1 million net outflow from US spot Bitcoin ETFs in the last week. According to James Butterfill, a leading analyst at CoinShares, this significant amount of outflow highlights a “true correction is underway” as this trend extends beyond a single week, with a total of over $1.1 billion flowing out in the past two weeks alone. Related Reading: Is Bitcoins Rally Over? New Insights from CryptoQuant Predict a Market Downturn Global Outflows Amidst Economic Uncertainty James Butterfill attributes this withdrawal to a lack of confidence among investors regarding anticipated interest rate cuts. Commenting on the consistent outflows, Butterfill noted: We believe this is in reaction to the pessimism amongst investors for the prospect interest rate cuts by the FED this year. Notably, the US was not alone in experiencing these outflows; significant sums were also withdrawn from funds based in Canada, Germany, and Hong Kong. Contrarily, funds based in Brazil and Switzerland witnessed net inflows, indicating a varied global response to the current economic climate. While Bitcoin faced the brunt of the withdrawals, Ethereum also saw notable outflows, with $58 million leaving Ethereum-based investment products globally. This occurred despite the anticipation surrounding new issuers’ S-1 registration filings with the SEC, hinting at potential launches. However, not all cryptocurrencies suffer from these conditions. Altcoins such as Solana, Litecoin, and Polygon experienced net inflows, suggesting that some investors are viewing the current market weaknesses as potential buying opportunities, according to Butterfill. Bitcoin Market Turbulence and Optimistic Forecasts Amidst these financial shifts, the broader crypto market has felt the impact, with Bitcoin’s price falling by 4.7% in the past 24 hours and 6.6% over the past week, currently trading at around $61,186. This downturn has had a cascading effect on traders, with significant liquidations occurring in the market. According to Coinglass, 91,772 traders were liquidated in the past 24 hours, with total liquidations amounting to $308.97 million. Of this, Bitcoin traders alone faced $123.35 million in losses. Amid market volatility, Jack Mallers, CEO of Strike, a global Bitcoin application, maintains a bullish outlook on Bitcoin’s future. In discussion with analyst Scott Melker, Mallers expressed confidence that despite current price fluctuations, Bitcoin could reach between $250,000 and $1 million in the coming cycle. Related Reading: Survival of the Fittest: Heres How Bitcoins Next Rally Hangs on Miner Capitulation He attributes this potential growth to the ongoing dollar depreciation and sees Bitcoin as a robust hedge against currency debasement. Featured image created with DALL-E, Chart from TradingView

View Details

CoinShares Sold £26.6 Million FTX Claim for a Profit

CoinShares, a European digital asset-focused investment company, has sold its claim from bankrupt crypto exchange FTX at a net recovery rate of 116 percent. Announced today (Monday), the company will receive a return of £31.32 million on a £26.6 million claim after the customary closing conditions.

Recovery with a Profit

The resolution of the FTX situation has been highly favourable for CoinShares, said the CEO of CoinShares, Jean-Marie Mognetti.

This exceptional recovery rate is a testament to the diligence and expertise of our team. We remain dedicated to leveraging this success to reward our shareholders and to drive further growth and innovation within the digital asset industry.

However, CoinShares did not name the person or entity to whom it sold its FTX claims.

The company further highlighted reinvesting the recovered proceeds in growth opportunities. It also pointed out how the claim settlement provided an increased return to its shareholders.

FTX Moving Towards Refunding Creditors

Interestingly, the claim settlement came only a month after the bankruptcy management of FTX put forth a plan to repay creditors. Under the proposed plan, creditors with $50,000 or less in claims, which is 98 percent of the creditors, will be eligible to receive 118 percent of their claims. Further, all non-governmental creditors would also receive their claims in full, along with a 9 percent interest to be calculated from the date of the bankruptcy filing.

The distribution plan came 17 months after the crypto exchange filed for bankruptcy. At the time of the bankruptcy filing, Bitcoin was trading at about $16,000, but it recently peaked at above $72,000 earlier this year and is trading at over $62,000, as of press time.

Meanwhile, a group of FTX creditors moved to court to object to the proposed reorganisation plan, claiming that it was not in their interest.

Although the condition of FTX looked very grim at the time of its bankruptcy, with a hole of $8 billion in its books, the bankruptcy administrators recovered substantial assets held by the crypto exchange. Recently, the Japanese crypto exchange Bitflyer acquired the local unit of FTX, which operated independently from its tainted parent.

View Details