##  [# Digital Assets See Outflows of $62M Last Week](/sections/features/digital-assets-see-outflows-62m-last-week) 

 

# Digital Assets See Outflows of $62M Last Week

 

 

It marks the seventh straight week of outflows.



 

 

 

 

 [![JamesButterfill310x310](/sites/default/files/styles/author_image_icon/public/2023-08/JamesButterfill310x310.png?itok=uNqgiAyR)](/contributors/james-butterfill) 

[By James Butterfill](/contributors/james-butterfill)

 Jun 05, 2023

 Edited by: Lisa Barr

 

 

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**Takeaways**

- Digital asset investment products saw outflows totalling US$62m, marking the 7th consecutive week of outflows that now totals US$329m.
- Tron, the smart contracting platform, was the primary focus, seeing outflows totalling US$51m last week.
- We believe investors have been taking profits and exiting short positions rather than the recent outflows representing a structural downshift in sentiment for bitcoin.

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_1.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_Table1.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_Table2.png)

Digital asset investment products saw outflows totalling US$62m, marking the 7th consecutive week of outflows that now totals US$329m, representing 1% of total assets under management (AuM). From a proportional perspective this now matches the run of outflows seen at the beginning of 2022. The change in total AuM over this period matches the outflow of 1% implying this was not driven by price declines but profit taking, particularly in light of prices having risen 56% across investment products year-to-date.

The recent outflows are off the back of low trading activity, with volumes remaining 60% below the year’s average. This is mirrored in the broader crypto market which has seen a 55% decline in volumes over the last 7 weeks.

Tron, the smart contracting platform, was the primary focus, seeing outflows totalling US$51m last week, representing 70% of total AuM. We believe this was a single investment product provider removing seed capital rather than anything more ominous.

Bitcoin saw minor outflows totalling US$2.7m while short-bitcoin also saw outflows of US$6.3m. While the absolute outflows for short-bitcoin are smaller, the total outflow over the last 6 weeks represent 44% of total AuM, compared to just 0.9% for long-bitcoin. This implies investors have been taking profits and exiting short positions rather than implying a structural downshift in sentiment for the asset.

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_2.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_3.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_4.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_5.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_6.png)

![](https://www.etf.com/sites/default/files/2023-06/DASeeOutf62mLW_7.png)

*Contact James Butterfill at* [*research@coinshares.com*](mailto:research@coinshares.com "Follow link")



 

 

 [ James Butterfill Head of Research and Investment Strategy ](/contributors/james-butterfill) 

 

 

  James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an…   [View Bio](/contributors/james-butterfill)

 



 

 


 Related Topics  [Crypto](http://www.etf.com/topics/cryptocurrency)