CoinShares News

Fear and trepidation spread across the crypto market last week following the high-profile collapses of Silvergate Bank and Silicon Valley Bank.

Jean-Marie Mognetti, the CEO of CoinShares, wrote that the FTX bankruptcy “had a significant impact” on the firm’s capacity to deploy its algorithmic trading platform HAL in Europe.

Institutional investors are feeling the heat as the SEC targets all aspects of the crypto industry in the United States.

CoinShares’ stock was previously listed on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized companies.

Institutional investors continue to see the long-term potential of crypto and have been loading their bags throughout the year, according to a survey.

The aftermath of FTX’s collapse has soured crypto investor sentiment with “record” inflows into short-investment products last week, said CoinShares.

The Bitcoin price briefly fell below $16,000 last week as Sam Bankman-Fried’s FTX Group filed for bankruptcy.

Digital asset investment products recorded $5 million worth of cumulative weekly outflows in what CoinShares describes as an “apathetic period.”

The bot is based on an algorithm that is focused on aggregating different data sets from OpenSea to determine the supposed “fair price” of an NFT.

Matrixport’s head of strategy said he believes the market is currently in a “wait-and-see environment” but could shift after the U.S. mid-term elections in November.

Bitcoin investment products, which include ETFs, ETPs and Grayscale’s GBTC, saw a third consecutive week of outflows.

The firm's book-making took a huge hit after being exposed to the TerraUSD collapse.

For the week ending July 15, ETH investment products posted $120 million worth of inflows, marking the largest weekly inflows for the asset since June 2021.

The new Algorand ETP joins a family of CoinShares’s staked ETPs featuring cryptocurrencies DOT, XTZ, ADA, SOL, ATOM and MATIC.

Demirors however said she certainly expects “more pain ahead” for tech stocks and crypto as we head closer to recession.