According to data released by CoinShares, a cryptocurrency asset management company, digital asset investment products experienced a net outflow of $126 million last week, mainly driven by net outflows from Bitcoin and Ether-related investment products.
CoinShares stated that investors seemed hesitant due to the stagnation of digital asset prices. The trading volume of digital asset investment products increased slightly from $17 billion to $21 billion last week, but the activity of ETP/ETF relative to the overall market decreased from 40% of the total trading volume on trusted exchanges last month to 31% last week, “indicating cautious attitudes among investors.”
In terms of regions, the United States had the largest outflow of funds from digital asset investment products, totaling $145 million, followed closely by Switzerland and Canada, which had net outflows of $5.7 million and $6 million, respectively. German investors, on the other hand, saw the recent price weakness as an opportunity, with a net inflow of nearly $29 million last week.
The net outflow amount for Bitcoin-related investment products was $110 million, but it still maintained a positive inflow of $555 million so far this month. Short-selling Bitcoin investment products broke the streak of three consecutive weeks of net outflows and showed a small net inflow of $1.7 million, which may indicate that investors are taking advantage of the recent price weakness.
In contrast, Ether-related investment products were most affected, with a net outflow of nearly $29 million last week, marking the sixth consecutive week of net outflows. As for other altcoin investment products, except for Solana, which had a net outflow of $3.6 million last week, many altcoins performed well. Some more unique currencies saw inflows, such as Decentraland (MANA), Basic Attention Token (BAT), and LIDO (LDO), which had inflows of $4.9 million, $2.9 million, and $1.8 million, respectively.
