For the week ending September 29th, digital asset investment products lost $147 million.
Crypto investment products had inflows of roughly $2 billion in the prior three weeks.
According to crypto investment firm CoinShares, cryptocurrency investment products saw withdrawals last week after many weeks of large inflows. For the week ending September 29th, digital asset investment products lost $147 million. This is according to CoinShares’ most recent Digital Asset Fund Flows Weekly Report, which was published on October 7th.
With a one-week influx of $1.2 billion from September 22–28, crypto products had inflows of roughly $2 billion in the prior three weeks. Before the outflows began. According to CoinShares, the stronger-than-expected economic statistics from last week decreased the likelihood of major rate cuts happening soon, which led to last week’s outflows.
Investors Eyeing Diversified Portfolio
While wider crypto markets have seen decreased volumes. Trading volumes in ETP investment products were up 15% for the week, as pointed out by CoinShares’ head of research, James Butterfill.
Bitcoin investment products were the most actively traded last week, with $159 million being sold by investors, according to CoinShares.
The $28.9 million in withdrawals continued the negative trend that has plagued products based on Ether since its exchange-traded funds debuted in the US in July. However, multi-asset investment products have now seen inflows of $29 million for 16 weeks running.
Based on data from CoinShares, multi-asset investment products have garnered $431 million over the last 16 weeks. Which accounts for 10% of the total investments. Investors who want to put their money into a diverse portfolio of assets rather than individual ones have been favoring multi-asset solutions since June, according to CoinShares’ Butterfill.
Highlighted Crypto News Today:
Shiba Inu’s $0.01 Dream: Analyst Dismisses The Possibility
