Digital Asset Products Saw Inflows of Just $6M

But bitcoin trading volumes double.

JamesButterfill310x310
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Head of Research and Investment Strategy
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Reviewed by: James Butterfill
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Edited by: James Butterfill

Takeaways

  • Digital asset investment products saw minor inflows totalling US$6.1m in a continuation of the apathy seen amongst investors that has now lasted for 7 weeks.
  • Bitcoin saw inflows totalling US$13m, it was also the key proponent for the increase in trading, comprising 70% of volumes, having risen 100% relative to the prior week.
  • Short-bitcoin saw a second week of outflows totalling US$2.4m, with outflows since mid-September now totalling US$20m.
  • Altcoins saw very little activity with the exception of XRP with inflows of US$0.5m.

 

 

Digital asset investment products saw minor inflows totalling US$6.1m in a continuation of the apathy seen amongst investors that has now lasted for 7 weeks. Recent price appreciation has risen from US$24bn to US$27bn but remains well off the highs seen this time last year of US$86bn. Although, trading volumes have risen 77% from the prior week to US$1.3bn, indicating that activity is picking up.

Regionally, the US and Germany were the only countries to see inflows which totalled US$13m and US$3.3m respectively. Brazil, Canada, Sweden and Switzerland saw outflows of US$10m in aggregate.

Bitcoin saw inflows totalling US$14m, it was also the key proponent for the increase in trading, comprising 70% of investment product volumes, having risen 100% relative to the prior week. Short-bitcoin saw a second week of outflows totalling US$2.4m, with outflows since mid-September now totalling US$20m (15% of assets under management (AuM)).

Ethereum saw its 4th straight week of outflows totalling US$2.1m, bringing its run of outflows since the merge to US$14m, demonstrating very minor negative sentiment considering it represents just 0.2% of AuM.

Multi asset investment products saw minor outflows totalling US$3.1m, while altcoins saw very little activity with the exception of XRP with inflows of US$0.5m.

 

 

 

 

 

 

Contact James Butterfill at [email protected]

James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an investment strategist at CoinShares. Previously, he was head of research at ETF Securities, with prior experience as a multi-asset fund manager and investment strategist at Coutts & Co., HSBC & ING Barings. James is a regular media commentator, and frequently appears on Bloomberg TV, CNBC, BBC and other broadcast outlets. Investment Week awarded him best ETF Eesearch and best FX Research in 2016 and 2017, respectively. James is currently an investment strategist at CoinShares, writing research white papers on investment themes, identifying investment opportunities and helping investors understand the digital asset world.