Digital Asset Investments Saw Outflows of $23M
The trend follows a continuation of negative sentiment from the FTX fallout.
Takeaways
- Digital asset investment products saw outflows totalling US$23m in a continuation of the negative sentiment seen the previous week.
- Short investment products saw a mixture of inflows and outflows that varied across providers, while long-only investment products predominantly saw outflows.
- Ethereum saw minor outflows totalling US$6m while the large inflows into short products seen the previous week were completely reversed with an outflow of US$15.2m.
- Blockchain equities are also suffering from the FTX collapse, seeing US$13m outflows last week.
Digital asset investment products saw outflows totalling US$23m in a continuation of the negative sentiment seen the previous week. Short investment products saw a mixture of inflows and outflows that varied across providers, while long-only investment products predominantly saw outflows.
Regionally, the negative sentiment was focussed on the US, Sweden and Canada which all saw either outflows from long investment products or inflows into short products. Germany and Switzerland stood out as investors in aggregate added to long only or sold out of short positions.
Bitcoin saw outflows totalling US$10m, small when looking at the bigger picture of US$322m of inflows year-to-date, while short investment products saw inflows totalling US$9.2m, highlighting sentiment remains negative.
Ethereum saw minor outflows totalling US$6m while the large inflows into short products seen the previous week were completely reversed with an outflow of US$15.2m. It is still too early to say this is a positive change in sentiment.
Outflows continued in altcoins, XRP, Polygon and Tezos were the main focus totalling US$0.5m, US$0.3m and US$0.2m respectively.
Blockchain equities are also suffering from the spill over from the FTX collapse, seeing US$13m outflows last week.
Contact James Butterfill at [email protected]
