Digital asset investment products recorded their best month in July after finishing the month with total inflows of $474 million, according to CoinShares Digital Asset Fund Flows Weekly Report.

The report revealed that digital asset investment product inflows for the week starting July 25 were $81 million.

It marked the fifth consecutive week of inflows and brought the total inflows within that period to $530 million.

These inflows are a sharp turnaround in the market direction after a red June saw total outflows of $481 million.

The turnaround comes after the broader crypto market regained the $1 trillion mark and flagship digital assets slightly recovered from the bear market.

Short Bitcoin position recorded its first outflow in five weeks as investors withdrew $2.6 million –suggesting that the bearish market sentiments are easing up.

On the other hand, Bitcoin (BTC) investment products had the most inflows, with almost $85 million invested by institutional investors.

Ethereum (ETH) continued with its positive flows, as it posted $1.1 million in inflow. Other altcoins like Solana (SOL) recorded $1.5 million in inflows, while Litecoin (LTC) saw $100,000 in inflows.

However, there was an unusually bad week for multi-asset investment products, with outflows of $3.7 million. It is the asset class’ second consecutive week of outflows, finishing the month with $400,000 in outflows.

Most of the inflows for the week of July 25 came from Purpose with $60.3 million. Other providers like 21Shares, ProShares, and CoinShares contributed the remaining $20.8 million in inflows.

Only CoinShares XBT recorded $2.9 million outflows, finishing the month with outflows of $10.2 million.

Geographically, Canada was responsible for the most inflows during the week of July 25 with $67.1 million, while Switzerland had the most inflows with $356 million.

For context, the US recorded only $56 million in inflows through July.

Brazil also saw minor outflows of $3.3 million, while Sweden continues to record outflows and finishes the month in the red.

Meanwhile, trading activity last week was $1.3 billion, far below the $2.4 billion average for the year.

The post Crypto investments products see inflows of $474M in July appeared first on CryptoSlate.

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