Bitcoin Sees Fourth Straight Week of Inflows

Takeaways

• Digital asset investment products saw outflows totalling US$5m last week, although the majority was from short investment products.
• Bitcoin saw its 4th consecutive week of inflows totalling US$12m, while short-bitcoin investment products saw outflows totalling a record US$15m. These outflows represent 10% of total assets under management (AuM) and are double that of any seen in prior weeks. 
• Ethereum saw minor outflows totalling US$2.2m last week, highlighting continued hesitancy amongst investors post the Merge.

Digital asset investment products saw outflows totalling US$5m last week, although the majority was from short investment products suggesting sentiment remains positive. Volumes remain historically low as investors wait for signs that the US Federal Reserve will back down from its hawkish monetary policy.

Germany saw the most inflows, totalling US$2.9m, while the outflows were focussed on Sweden and Canada which saw US$6.4m and US$4.4m respectively.

Bitcoin saw its 4th consecutive week of inflows totalling US$12m, while short-bitcoin investment products saw outflows totalling a record US$15m. These outflows represent 10% of total assets under management (AuM) and are double that of any seen in prior weeks, suggesting bearish sentiment is dissipating.

Ethereum saw minor outflows totalling US$2.2m last week, highlighting continued hesitancy amongst investors post the Merge. Recent feedback from clients suggest concern for its regulatory status as a security now it offers a staking yield.

Very little activity was seen last week in altcoins, with minor outflows for Polkadot and Solana.

Minor inflows were seen in equity blockchain ETPs of US$1.6m, despite the poor performance of tech stocks in general, has seen inflows totalling US$157m this year.
 

Contact James Butterfill at [email protected]