According to PANews, CoinShares' latest weekly report reveals that digital asset investment products experienced a minor outflow of $126 million last week. This is likely due to investors adopting a cautious stance as the upward price momentum stalled. Despite the trading volume slightly increasing from $17 billion to $21 billion, ETP/ETF activity declined compared to the overall market, dropping from 40% of the total credible exchange trading volume last month to 31% last week. This indicates a cautious sentiment among investors.
The United States saw the largest outflow of funds, totaling $145 million, followed by Switzerland and Canada with outflows of $5.7 million and $6 million respectively. German investors, on the other hand, viewed the recent price weakness as an opportunity, resulting in an inflow of $29 million last week.
Bitcoin experienced an outflow of $110 million, but it has still maintained a positive inflow of $555 million so far this month. Bitcoin short sellers broke the continuous three-week outflow trend, with a slight inflow of $1.7 million, likely taking advantage of the recent price weakness. Ethereum suffered the most severe losses, with an outflow of $29 million last week, marking five consecutive weeks of outflows. Apart from Solana, which saw an outflow of $3.6 million last week, other less popular cryptocurrencies experienced inflows, such as Decentraland, Basic Attention Token, and LIDO, which saw inflows of $4.9 million, $2.9 million, and $1.8 million respectively.