CoinShares Reports Significant Outflows from Digital Asset Investment Products
Cryptocurrency asset management firm CoinShares reported on Monday that digital asset investment products experienced a net outflow of $223 million last week, ending a streak of 15 consecutive weeks of net inflows.
Source: CoinShares
CoinShares noted that the market performed strongly at the beginning of the week, with net inflows reaching $883 million. However, a reversal occurred later, likely influenced by the hawkish stance of the U.S. Federal Reserve’s FOMC meeting and a series of better-than-expected economic data. The report stated:
In terms of individual cryptocurrencies, Bitcoin became the main target of negative market sentiment, with a total net outflow of $404 million last week. CoinShares indicated that net inflows for the year to date remain at a high level of $20 billion, which is not surprising given Bitcoin’s extreme sensitivity to changes in monetary policy.
Despite facing pressure in the latter part of last week, Ether investment products still achieved a net inflow for the 15th consecutive week, totaling $133 million, demonstrating strong positive sentiment towards the asset. XRP, Solana, and SEI also received capital support, recording net inflows of $31.2 million, $8.8 million, and $5.8 million, respectively. Aave and Sui experienced slight net outflows of $1.2 million and $800,000, respectively.
Source: CoinShares
