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Cryptocurrency Fund Flows On Track for Record Quarter
Digital asset investment products closed on Friday with a record $55.8 billion assets under management.
First-quarter inflows to cryptocurrency investment products (ETPs) total $4.2 billion already, breaking the quarterly record of $3.9 billion in Q4 2020, according to a report by CoinShares, a digital asset investment firm.
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- Digital asset investment products closed on Friday with a record $55.8 billion assets under management (AUM) following net inflows and positive price action last week of $242 million, according to the CoinShares report.
- Ethereum funds took in a net $113 million last week.
- Passive investment products with $54.1 billion AUM continue to outperform their active peers with a smaller $786 million in AUM, according to CoinShares. Passive funds simply track the price of digital assets, while active strategies adjust the weightings of their underlying holdings based on market conditions.
- “The price action as bitcoin drew closer to $60,000 led to minor outflows of $39 million last week, which we believe is due to profit taking,” according to CoinShares.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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