CoinShares reported on July 10 that three weeks of positive digital asset inflows had rectified nine weeks of market outflows. $136 million in inflows this week.Bitcoin funds continued to dominate with 98% of inflows.
Ether, multi-asset holdings, and a few altcoins contributed 2%. After nine weeks of digital asset outflows exceeding inflows, this third week of positive movement increases the current streak to $470 million.
Source: Screenshot, CoinShares
Coinshares claims this number entirely corrects the outflow streak. After two weeks of year-long highs, bitcoin inflows continued. BTC inflows last week were $123 million, as reported.
The two-week BTC inflow totals $256 million after $10 million this week. Bitcoin’s market cap rose from 51.46% to 51.66% as of July 11.
Blockchain equity inflows hit a year-high of $15 million, which is good news for holders. Last week’s $6.8 million broke Coinshares’ nine-week outflow run.
Since liquidity is down, equilibrium may be near. The report states that trading volume has reached a “seasonal low,” resembling July and August cycles from past years. Despite strong inflow news, some investors seem apprehensive about the lack of a trend.
The anticipation that one or more companies would gain U.S. government approval to offer BTC as a spot exchange-traded fund may be waning.
The Securities and Exchange Commission’s litigation against Binance and Coinbase continues with no indication of the court’s decision.
