CoinShares: Slight Net Outflow of Digital Asset ETPs Last Week, Ether Investment Products Continue Net Outflow Trend

CoinShares: Slight Net Outflow of Digital Asset ETPs Last Week, Ether Investment Products Continue Net Outflow Trend

CoinShares: Slight Net Outflow of Digital Asset ETPs Last Week, Ether Investment Products Continue Net Outflow Trend

According to data released by CoinShares, a cryptocurrency asset management company, last week saw a net outflow of $126 million from digital asset investment products, 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/ETFs decreased compared to the overall market, dropping from 40% of the total trading volume on trusted exchanges last month to 31% last week, “indicating investors’ cautious attitude.”

In terms of regions, the largest outflow of funds from digital asset investment products occurred in the United States, totaling $145 million, followed closely by Switzerland and Canada with 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 there is still a net inflow of $555 million this month. Shorting Bitcoin investment products broke the trend of three consecutive weeks of net outflows and showed a slight net inflow of $1.7 million, possibly indicating that investors are taking advantage of the recent price weakness.

In contrast, Ether-related investment products were the most affected, with a net outflow of nearly $29 million last week, marking six consecutive weeks of net outflows. As for other altcoin investment products, apart from a net outflow of $3.6 million from Solana last week, many altcoins performed well and some more specialized currencies saw inflows, such as Decentraland (MANA), Basic Attention Token (BAT), and LIDO (LDO), with net inflows of $4.9 million, $2.9 million, and $1.8 million, respectively.