Institutional investors made significant outflows last week. A total of $528 million outflow was experienced, and geopolitical concerns lie behind this situation. These large outflows seen in cryptocurrency-based investment products are considered to be investors' response to market uncertainties. Leading cryptocurrencies such as Bitcoin and Ethereum experienced significant value losses during this period. Economic and geopolitical concerns in the US are seen as the main reasons for these fluctuations.
Last week, there were $528 million in total outflows in digital asset investment products, the highest outflow in the last four weeks. Fears of an economic recession in the US, geopolitical risks and general market liquidation are the main reasons behind these outflows. Bitcoin saw an outflow of $400 million after five weeks of inflows, while Ethereum saw an outflow of $146 million. This outflow in Ethereum came with net outflows totaling $430 million since the ETF launch in the US. These outflows are considered a reflection of general market volatility.
The outflows were mostly centered in the U.S. and totaled $531 million. Germany and Hong Kong saw outflows of $12 million and $27 million, respectively. Canada and Switzerland saw inflows of $17 million and $28 million, respectively, taking advantage of the weakness in prices. These regional differences point to different risk perceptions and strategies among investors.
Last week, ETPs traded at $14.8 billion, representing just 25% of the total market. The price correction since Friday’s close has resulted in a loss of $10 billion in total ETP assets under management (AuM). This reflects the general volatility of ETP markets and the cautious approach of investors.
In terms of short positions, Bitcoin saw its first measurable inflow since June at $1.8 million. There was also an outflow of $18 million in blockchain stocks, in line with outflows from technology-related ETFs. These outflows are seen as an indicator of the general uncertainty in the tech and crypto asset markets.
Ethereum’s newly launched ETFs in the US saw $430 million inflows, offset by $603 million in outflows from Grayscale Trust. European ETPs also saw small outflows, but that didn’t change the overall picture. These developments show how quickly market dynamics can change and investors are adopting different strategies.
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I EXPLAIN IN DETAIL.
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