$28M Flows Out Of Digital Asset Funds
Digital asset investment products saw outflows for the third consecutive week.
Takeaways
- Digital asset investment products saw outflows for the third consecutive week with outflows totalling US$28m.
- Bitcoin saw the majority of the outflows which totalled US$24m, the largest outflows since mid-June.
- Multi-asset investment products continue to buck the trend with another week of inflows totalling US$3.1m.
- Investment product trading turnover remains low at US$1.7bn for last week, this represents just 22% of the high in volumes seen in May.
Digital asset investment products saw outflows for the third consecutive week with outflows totalling US$28m. Last week’s outflows suggest negative sentiment still pervades the asset class despite more recent constructive comments from key industry players.
Bitcoin saw the majority of the outflows which totalled US$24m, the largest outflows since mid-June. Net flows year to date remain positive with inflows of US$4.1bn, but they are off their peak of US$4.7bn seen in early May.
Ethereum also saw outflows totalling US$7.3m although flows were very mixed amongst providers with no discernible regional trend.
Multi-asset investment products continue to buck the trend with another week of inflows totalling US$3.1m. Multi-asset is the only set of investment products where there have been inflows every week this year representing 18% of assets under management.
Investment product trading turnover remains low at US$1.7bn for last week, this represents just 22% of the high in volumes seen in May. This decline is mirrored in overall Bitcoin volumes which were 32% over the same period in what we believe is due to seasonal effects.
Contact James Butterfill at [email protected]
