Digital Asset Products Saw Inflows of Just $6M

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]