Tiny fish may be reacting to market-wide selling pressure, but institutional cryptocurrency investors have taken a different stance, pumping hundreds of millions into digital asset investment vehicles last week.
By CoinShares reportdigital asset investment products saw inflows totaling $308 million, masking outflows of $576 million on December 19 (the largest single day). The total outflow in the last 48 hours of last week was $1 billion.
“While these outflows may seem concerning, they represent just 0.37% of total assets under management (AUM), which ranks 13th all-time in terms of single-day outflows,” the report notes. “The largest single-day outflow occurred in mid-2022, when the FOMC (Federal Open Market Committee) interest rate increase resulted in an outflow of $540 million (2.3% AuM).”
Meanwhile, price adjustments resulted in a $17.7 billion reduction in total AuM for exchange-traded digital products (ETPs), which CoinShares attributes to the market’s response to economic changes projections published by the FOMC on December 18. The U.S. economy is projected to grow 2.5% this year and 2.1% in 2025.
Institutional cryptocurrency investors prefer $BTC and $ETH
CoinShares added that multi-asset investment products experienced the most dramatic outflows over the same period, totaling $121 million last week.
On the other hand, Bitcoin ($BTC) saw net inflows of $375 million compared to $51 million for Ethereum (ETH). Whales have played a significant role in ETH dollar inflows over the past few days, raising over $1 billion ($340k ETH) despite the current ETH dollar correction phase.
Meanwhile, Binance reports that exchange-traded funds (ETFs) recorded net inflows of $62.73 million during the December 16 to December 20 period. This means that the cumulative historical net inflow of USD ETH ETFs totaled $2.328 billion, with a total net asset value of $12.155 billion.
Whale activity increases Meme Coin cryptocurrency prices
$ETH is not the only token attracting whales. Despite the recent decline, Dogecoin ($DOGE) has also seen increased whale activity, with the last two trades totaling USD 23.5 million and USD 34 million, respectively.
Typically, an inflow of whales signals investor confidence and acts as a precursor to a rally in the cryptocurrency market, so it appears that market sentiment is about to change.
This is especially good news for newcomers to the meme market, including the recently listed Pepe Unchained ($PEPU) and Crypto All-Stars ($STARS), as well as Invitation from Wall Street ($WEPE)which is currently on pre-order.
Wall Street Pepe orchestrates a personal vendetta against the whale trade in insider groups. That’s why he’s gathering an army of retail investors. By sharing his trading knowledge and market insights with them, he will turn these little boys into full-fledged whales. This clear and relatable goal makes $WEPE one of the top meme coins of December.
Despite the broader market collapse, investors began flocking to the $WEPE pre-sale. Since its launch just 21 days ago, $WEPE has raised over $35 million, including $1.67 million in the last 24 hours. This also raises the question: could $WEPE be the token that dethrones $PEPE?
It’s time for retail investors to take the lead
$WEPE’s current price of $0.000365 is expected to raise today. Even then, it will still be a great investment to start with—and the opportunity to support $WEPE’s mission to level the playing field for retail and institutional cryptocurrency investors.
But first, spend some time on DYOR; This article does not constitute financial advice. You will learn more by visiting official websiteby reading the official $WEPE document and checking Channel X.
