According to data released by cryptocurrency asset management company CoinShares on Monday (22nd), there was a net outflow of $206 million from digital asset investment products last week, marking two consecutive weeks of outflows. The trading volume of digital asset ETPs decreased slightly from $21 billion the previous week to $18 billion. The proportion of these trading volumes to total Bitcoin trading volume (which continues to rise) has decreased to only 28%, compared to 55% a month ago. CoinShares’ report indicates that these data suggest a continued decline in interest from ETP/ETF investors, possibly due to market expectations that the Federal Reserve (FED) may keep interest rates at this high level for longer than expected.
Source:
CoinShares
In terms of regions, negative sentiment mainly came from US ETFs, with a total net outflow of $244 million. The outflow of funds was mainly concentrated in existing ETFs, while new ETFs (Bitcoin spot ETF) continued to experience inflows, but noticeably lower than in previous weeks. Canada and Switzerland saw net inflows of around $30 million and $8 million respectively, while Germany experienced a slight net outflow of around $8 million.
Source:
CoinShares
Bitcoin-related investment products saw a net outflow of $192 million last week, and short positions on Bitcoin investment products also saw outflows, totaling $300,000. Ethereum-related investment products had a net outflow of $34 million, marking seven consecutive weeks of outflows. The total outflow for this month so far is $51.3 million.
Investor sentiment improved for multi-asset ETPs, with a net inflow of $9 million last week. Litecoin and Chainlink saw net inflows of $3.2 million and $1.7 million respectively. Blockchain stocks saw a net outflow of $9 million last week, marking 11 consecutive weeks of outflows. CoinShares believes this is due to investors’ continued concerns about the impact of the halving event on mining companies.
Source:
CoinShares
