CoinShares: Digital Asset ETPs Experienced $206 Million Net Outflows Last Week Due to Concerns about Interest Rate Expectations

CoinShares: Digital Asset ETPs Experienced $206 Million Net Outflows Last Week Due to Concerns about Interest Rate Expectations

CoinShares: Digital Asset ETPs Experienced $206 Million Net Outflows Last Week Due to Concerns about Interest Rate Expectations

According to data released by cryptocurrency asset management company CoinShares on Monday (22nd), digital asset investment products experienced a total net outflow of $206 million last week, marking two consecutive weeks of net outflows.

The trading volume of digital asset ETPs decreased slightly from $21 billion in the previous week to $18 billion. The proportion of these trading volumes in the total trading volume of Bitcoin (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, “which may be due to market expectations that the Federal Reserve may keep interest rates at this high level for a longer period than expected.”

Source:
CoinShares

In terms of regions, negative sentiment almost entirely comes from US ETFs, with a total net outflow of $244 million. The outflow of funds is mainly concentrated in existing ETFs, while new ETFs (Bitcoin spot ETF) continue to see inflows, although significantly lower than previous weeks. Canada and Switzerland saw net inflows of approximately $30 million and $8 million, respectively, while Germany experienced a slight net outflow of approximately $8 million.

Source:
CoinShares

Bitcoin-related investment products saw a net outflow of $192 million last week, and short Bitcoin investment products also saw a net outflow of $300,000. The total net outflow of Ether-related investment products amounted to $34 million, marking seven consecutive weeks of outflows, with a total outflow of $51.3 million so far this month.

The investment sentiment for multi-asset ETPs improved, 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 that this is due to investors’ continued concerns about the impact of the halving event on mining companies.

Source:
CoinShares