Digital asset investment products saw net outflows for three consecutive weeks

Data from the weekly report of digital asset management company CoinShares showed that digital asset investment products issued by institutions experienced outflows for the third consecutive week, with net outflows reaching US$30 million last week. Still, outflows eased last week, with most providers seeing small inflows but Grayscale seeing a huge outflow of $153 million. The phenomenon led to a 43% week-on-week increase in trading volume to $6.2 billion, which remains well below the $14.2 billion weekly average so far this year.

Regionally, the United States recorded inflows of $43 million, while Brazil and Australia saw inflows of $7.6 million and $3 million respectively. However, Germany, Hong Kong, Canada and Switzerland saw outflows of $29 million, $23 million, $14 million and $13 million respectively, showing regional differences in market sentiment.

Ethereum continues to experience capital outflows, are investors buying the bottom of these two currencies?

Ethereum was once again the biggest loser this week, recording its largest weekly outflows since August 2022, totaling $60.7 million. Outflows over the past two weeks have totaled $119 million, making it the worst-performing asset in terms of net flows so far this year.

Compared to Ethereum outflows, multi-asset and Bitcoin ETPs led inflows, recording $17.9 million and $10 million respectively. This suggests that investor confidence in Bitcoin may be returning. Additionally, Short-bitcoin also saw $4.2 million in outflows, further supporting this view.

CoinShares analysts specifically mentioned that a number of altcoins also attracted inflows, most notably Solana ($1.6 million) and Litecoin ($1.4 million). The data shows that even amid market instability, investors are still looking for bargain hunting opportunities.

Source: CoinShares
Several altcoins also attracted inflows, most notably Solana ($1.6 million) and Litecoin ($1.4 million)

U.S. Bitcoin spot ETF flips this week with $27.8 million net outflows

Preliminary data compiled by British investment company Farside Investors show that the U.S. Bitcoin spot ETF saw a net outflow of $27.8 million on Tuesday, breaking the past five consecutive days of net inflows. Judging from the data, Grayscale’s $GBTC has experienced a large outflow recently.

Since its listing in January, U.S. Bitcoin spot ETFs have seen a total net inflow of $14.6 billion, of which Grayscale’s product $GBTC has seen an outflow of $18.5 billion, and BlackRock’s product $IBIT has seen an inflow of $17.7 billion.

Source: Farside Investors
U.S. Bitcoin Spot ETF Fund Flow Chart

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