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Market

Digital Asset Investment Products Saw Minor Outflows Last Week Totaling $21M

January 22, 2024 - Around 2 mins mins to read

Key Points:

  • CoinShares reports a $21 million outflow from digital asset investment products, despite Bitcoin’s remarkable $11.8 billion weekly transaction volume.
  • New spot ETFs launched on January 11 resulted in $29 million in outflows for higher-cost issuers
In the latest report by CoinShares, data reveals a modest outflow of $21 million from digital asset investment products last week.
Digital Asset Investment Products Saw Minor Outflows Last Week Totaling $21M

Digital Asset Investment Products Reduces Amidst Bitcoin Trading Surge

Notably, despite these digital asset investment products outflow, Bitcoin‘s transaction volume skyrocketed to $11.8 billion, a staggering seven times the typical weekly volume witnessed in 2023. The United States led the inflows with $263 million, while Canada and Europe jointly experienced outflows of $297 million, indicating a subtle shift of assets to the U.S., where competitive fees prevail.

Interestingly, even though the $11.8 billion trading volume represented 63% of all Bitcoin trading on reputable exchanges, Bitcoin outflows amounted to $25 million, underscoring the dominance of ETP activity in the overall trading landscape.

Following the launch of new spot ETFs on January 11, 2024, higher-cost issuers in the U.S. suffered $29 million in outflows. In contrast, the newly issued ETFs attracted substantial inflows, surpassing this figure with a total of $4.13 billion. Investors seized the opportunity presented by recent price weakness to engage in short-selling Bitcoin investment products, resulting in inflows of $13 million.

Divergent trends were observed in other digital assets, with Ethereum and Solana experiencing outflows of $14 million and $8.5 million, respectively. Meanwhile, blockchain stocks witnessed a robust inflow of $156 million, bringing the total inflows over the past nine weeks to an impressive $767 million.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

Digital Asset Investment Products

Ethereum

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Market

Digital Asset Investment Products Saw Minor Outflows Last Week Totaling $21M

Key Points:

  • CoinShares reports a $21 million outflow from digital asset investment products, despite Bitcoin’s remarkable $11.8 billion weekly transaction volume.
  • New spot ETFs launched on January 11 resulted in $29 million in outflows for higher-cost issuers
In the latest report by CoinShares, data reveals a modest outflow of $21 million from digital asset investment products last week.
Digital Asset Investment Products Saw Minor Outflows Last Week Totaling $21M

Digital Asset Investment Products Reduces Amidst Bitcoin Trading Surge

Notably, despite these digital asset investment products outflow, Bitcoin‘s transaction volume skyrocketed to $11.8 billion, a staggering seven times the typical weekly volume witnessed in 2023. The United States led the inflows with $263 million, while Canada and Europe jointly experienced outflows of $297 million, indicating a subtle shift of assets to the U.S., where competitive fees prevail.

Interestingly, even though the $11.8 billion trading volume represented 63% of all Bitcoin trading on reputable exchanges, Bitcoin outflows amounted to $25 million, underscoring the dominance of ETP activity in the overall trading landscape.

Following the launch of new spot ETFs on January 11, 2024, higher-cost issuers in the U.S. suffered $29 million in outflows. In contrast, the newly issued ETFs attracted substantial inflows, surpassing this figure with a total of $4.13 billion. Investors seized the opportunity presented by recent price weakness to engage in short-selling Bitcoin investment products, resulting in inflows of $13 million.

Divergent trends were observed in other digital assets, with Ethereum and Solana experiencing outflows of $14 million and $8.5 million, respectively. Meanwhile, blockchain stocks witnessed a robust inflow of $156 million, bringing the total inflows over the past nine weeks to an impressive $767 million.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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