Digital Asset Investment Products See First Week Of Outflow After 7 Weeks
Key Points:
- Digital asset investment products saw a record outflow of $942 million, ending a seven-week streak of inflows.
- Bitcoin led the outflows with $904 million, alongside losses in Ethereum, Solana, and Cardano.
- Despite the downturn, total assets under management (AuM) remain at $88 billion, with mixed global impacts.
Digital asset investment products experienced a significant shift in investor sentiment last week, marking the first outflow in seven weeks, totaling a record $942 million.
Record Outflows Signal Shift in Digital Asset Investment Products
This follows a remarkable streak of inflows of digital asset investment products totaling $12.3 billion. Despite high trading volumes reaching $28 billion, down by two-thirds from the previous week, the recent price correction has caused a dent of $10 billion in total assets under management (AuM), which now stands at $88 billion, still above the previous cycle highs.
The downturn in prices led to investor hesitancy, particularly impacting new ETF issuers in the US, which witnessed reduced inflows totaling $1.1 billion. This somewhat offset the substantial $2 billion outflows from incumbent Grayscale.
Varied Trends in Digital Asset Investment Flows
The negative sentiment wasn’t confined to the US alone; countries like Sweden, Switzerland, Hong Kong, and Germany experienced outflows of $37 million, $25 million, $35 million, and $4 million, respectively. However, Brazil and Canada bucked the trend, seeing inflows totaling $9 million and $8.4 million, respectively.
Bitcoin dominated the outflows, constituting 96% of the total, with a significant $904 million. Short Bitcoin products also experienced minor outflows of $3.7 million.
Other major cryptocurrencies like Ethereum, Solana, and Cardano also suffered losses, with outflows of $34 million, $5.6 million, and $3.7 million, respectively. However, the rest of the altcoin space witnessed a net inflow of $16 million, with notable performers being Polkadot ($5 million), Avalanche ($2.9 million), and Litecoin ($2 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. |
Author
News
Digital Asset Investment Products See First Week Of Outflow After 7 Weeks
Key Points:
- Digital asset investment products saw a record outflow of $942 million, ending a seven-week streak of inflows.
- Bitcoin led the outflows with $904 million, alongside losses in Ethereum, Solana, and Cardano.
- Despite the downturn, total assets under management (AuM) remain at $88 billion, with mixed global impacts.
Digital asset investment products experienced a significant shift in investor sentiment last week, marking the first outflow in seven weeks, totaling a record $942 million.
Record Outflows Signal Shift in Digital Asset Investment Products
This follows a remarkable streak of inflows of digital asset investment products totaling $12.3 billion. Despite high trading volumes reaching $28 billion, down by two-thirds from the previous week, the recent price correction has caused a dent of $10 billion in total assets under management (AuM), which now stands at $88 billion, still above the previous cycle highs.
The downturn in prices led to investor hesitancy, particularly impacting new ETF issuers in the US, which witnessed reduced inflows totaling $1.1 billion. This somewhat offset the substantial $2 billion outflows from incumbent Grayscale.
Varied Trends in Digital Asset Investment Flows
The negative sentiment wasn’t confined to the US alone; countries like Sweden, Switzerland, Hong Kong, and Germany experienced outflows of $37 million, $25 million, $35 million, and $4 million, respectively. However, Brazil and Canada bucked the trend, seeing inflows totaling $9 million and $8.4 million, respectively.
Bitcoin dominated the outflows, constituting 96% of the total, with a significant $904 million. Short Bitcoin products also experienced minor outflows of $3.7 million.
Other major cryptocurrencies like Ethereum, Solana, and Cardano also suffered losses, with outflows of $34 million, $5.6 million, and $3.7 million, respectively. However, the rest of the altcoin space witnessed a net inflow of $16 million, with notable performers being Polkadot ($5 million), Avalanche ($2.9 million), and Litecoin ($2 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. |
Other Posts
Related Posts
Latest
Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
Press Release
Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
