In the world of cryptocurrency, recent market movements have seen small retail investors reacting to selling pressure across the board. However, institutional investors have taken a different approach, with significant inflows into digital asset investment vehicles in the past week. According to a report by CoinShares, digital asset investment products received a total of $308 million in inflows, offsetting the $576 million outflows on December 19, which marked the largest single-day outflow. Despite this, total outflows in the final 48 hours of the week reached $1 billion.
While these outflows may seem concerning, they only account for 0.37% of total assets under management (AuM). This ranks as the 13th largest single-day outflow on record, with the largest outflow occurring in mid-2022 due to an interest rate hike by the Federal Open Market Committee (FOMC).
Price corrections led to a $17.7 billion reduction in total AuM for digital asset exchange-traded products (ETPs), attributed to market responses to economic projections released by the FOMC on December 18, forecasting a 2.5% growth in the US economy this year and 2.1% in 2025.
Institutional investors have shown a preference for Bitcoin ($BTC) and Ethereum ($ETH), with multi-asset investment products experiencing significant outflows of $121 million. Bitcoin saw $375 million in net inflows, while Ethereum received $51 million. Notably, whales played a significant role in Ethereum inflows, acquiring over $1 billion (340,000 ETH) despite the current correction phase.
Binance reported that Ethereum exchange-traded funds (ETFs) saw net inflows of $62.73 million between December 16 and December 20, bringing the cumulative historical net inflow of Ethereum ETFs to $2.328 billion, with a total net asset value of $12.155 billion.
Whale activity has also been observed in other tokens, such as Dogecoin ($DOGE), with recent transactions totaling $23.5 million and $34 million. These inflows typically signal investor confidence and can precede a crypto rally, indicating a potential shift in market sentiment.
This positive outlook is particularly encouraging for meme coin newcomers like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Wall Street Pepe ($WEPE), currently in presale. Wall Street Pepe aims to empower retail investors by sharing trading knowledge and market insights, potentially turning them into whales themselves. This unique approach has positioned $WEPE as one of the best meme coins of December.
Despite market fluctuations, investor interest in the $WEPE presale remains strong, raising over $35 million in just 21 days, including $1.67 million in the past 24 hours. The question arises whether $WEPE could surpass the popularity of $PEPE in the meme coin arena.
With $WEPE’s current price set to increase today, early investors have an opportunity to support the project’s mission of leveling the playing field between retail and institutional investors. However, it is crucial for individuals to conduct their research (DYOR) before making any investment decisions. Interested parties can visit the official website, read the $WEPE whitepaper, and explore the X channel for more information.
