Goldman Sachs (NYSE:) updated its estimate for net inflows into digital assets year-to-date (YTD), revising the figure down from $12 billion to $8 billion. This significant adjustment comes after a reassessment of various contributing factors over the past month.
The initial $12 billion estimate as of June 12 was based on a combination of inflows into cryptocurrency funds, the flow implied by CME futures, fundraising by crypto venture capital funds, and an adjustment for the shift from digital wallets to new spot ETFs.
The revised $8 billion figure reflects a $14 billion net inflow into crypto funds by July 9, a flow impulse from CME futures of $5 billion, and year-to-date fundraising by crypto venture capital funds amounting to $5.7 billion. This is offset by a $17 billion adjustment due to the rotation from digital wallets on exchanges to spot Bitcoin ETFs, which offer…
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