Volume 178: Digital Asset Fund Flows Weekly Report

From CoinShares Research Blog by James Butterfill

Minor outflows of US$126m highlight hesitancy amongst investors

Digital asset investment products saw minor outflows totalling US$126m last week. Investors are seemingly hesitant since the positive price momentum has stalled. Volumes did pick up a little from US$17bn to US$21bn week-on-week, but ETP/ETF activity dropped relative to the overall market, from 40% of total volumes on trusted exchanges over the last month to 31% last week, demonstrating this caution amongst investors.

Regionally, the US saw the largest outflows totalling US$145m, while Switzerland and Canada followed with US$5.7m and US$6m outflow respectively. Investors in Germany saw recent price weakness as an opportunity, seeing US$29m inflows last week.

Bitcoin saw US$110m outflows but retained its positive inflows month-to-date of US$555m. Short-bitcoin broke its 3-week spell of outflows, with minor inflows of US$1.7m, presumably taking advantage of recent price weakness.

Ethereum suffered on a relative basis the most, with US$29m outflows last week, marking its 5th consecutive week of outflows.

Aside from Solana seeing US$3.6m outflows last week, altcoins had another good week, with more esoteric names seeing inflows, such as Decentraland, Basic Attention Token and LIDO, which saw US$4.9m, US$2.9m and US$1.8m inflows respectively.