Crypto Fund Outflows Set Record
It was the second straight week of outflows for digital asset funds, a record streak.
Digital asset outflows continue; evidence suggests a switch to Proof of Stake coins.
- Digital asset investment products saw net outflows for the second consecutive week totalling US$97m, another new record for outflows. The outflow remains low, representing only 0.2% of total assets under management (AuM).
- Adding to the outflow was Ethereum which saw minor outflows of US$12.6m following a long run of record-breaking inflows totalling US$924m year to date (8% of AuM).
- All other altcoins (typically coins other than Bitcoin) saw continued positive sentiment with inflows across the board totalling US$27m. Cardano saw the largest inflows ofUS$10m, which may represent investors actively choosing proof of stake coins based on environmental considerations.
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Digital asset investment products saw net outflows for the second consecutive week totalling US$97m, another new record for outflows. The outflow remains low, representing only 0.2% of total assets under management (AuM). Particularly when compared to the net inflows year to date of US$5.5bn, representing 11.8% of AuM. Regardless, it represents a net change in sentiment following increasing regulatory scrutiny and concerns over Bitcoin’s environmental credentials.
Last week saw lower outflows for Bitcoin, with outflows of US$111m versus US$115m the previous week (amended following new historical updates).
Adding to the outflow was Ethereum which saw minor outflows of US$12.6m following a long run of record-breaking inflows totalling US$924m year to date (8% of AuM).
All other altcoins (typically coins other than Bitcoin) saw continued positive sentiment with inflows across the board totalling US$27m.
Bitcoin volumes on trusted exchanges reached a record US$155bn last week.
(For a larger view, click on the image above)
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Contact James Butterfill at [email protected]
