Digital Asset Inflows Saw $10M Last Week
But investor hesitancy continues.
Takeaways
- Digital asset investment products saw inflows totalling US$10.3m last week representing the third week of inflows. The flows remain low implying continued hesitancy amongst investors.
- Bitcoin saw a third week of minor inflows totalling US$7.7m while short bitcoin resumed inflows with US$2.1m last week.
- Ethereum saw a second week of inflows totalling US$5.6m while short Ethereum saw minor outflows totalling US$0.9m.
- Last week saw broad negative sentiment for altcoins with outflows totalling US$3.5m.
Digital asset investment products saw inflows totalling US$10.3m last week representing the third week of inflows. The flows remain low implying continued hesitancy amongst investors, this is highlighted in investment product trading volumes which were US$886m for the week, the lowest since October 2020.
Regionally, minor outflows were seen across most of Europe last week with the exception of Sweden which saw inflows totalling US$16m. The US also saw minor inflows totalling US$7.7m while Germany saw outflows of US$9.1m.
Bitcoin saw a third week of minor inflows totalling US$7.7m while short bitcoin resumed inflows with US$2.1m last week.
Ethereum saw a second week of inflows totalling US$5.6m. Looking back, the Merge was not good for sentiment with outflows totalling US$65m in September. Increased regulatory scrutiny and a strong US Dollar being the likely culprits as the shift to Proof of Stake was executed successfully. Short Ethereum investment products saw minor outflows totalling US$0.9m.
Last week saw broad negative sentiment for altcoins (ex-Ethereum) with outflows totalling US$3.5m. Most effected were Polygon, Avalanche and Cardano with outflows of US$0.9m, US$0.8m and US$0.5m respectively.
Contact James Butterfill at [email protected]
