Digital Assets See $120M In Outflows

Total outflows in latest four-week run at $339 million.

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
  • Digital asset investment products saw outflows totalling US$120m, bringing total outflows in this 4-week run to US$339m.
  • Bitcoin saw the majority outflows in what was the largest single week of outflows since June 2021.
  • FTX Token, the utility token for the fast growing FTX crypto exchange, bucked the negative trend with inflows totalling US$38m last week, the largest of all crypto assets we track.
  • Blockchain equities finally succumbed to the negative sentiment with outflows totalling US$27m.

 

 

Digital asset investment products saw outflows totalling US$120m, bringing total outflows in this 4-week run to US$339m. This doesn’t reflect the same bearishness seen at the beginning of this year, although it is close to the US$467m outflows witnessed. Regionally, the outflows were fairly evenly split between The Americas comprising 41% and Europe 59%.

Bitcoin saw the majority outflows in what was the largest single week of outflows since June 2021, at US$133m. It is difficult to ascertain the precise reason for this other than the hawkish rhetoric from the US Federal Reserve and the recent price decline.

Ethereum saw outflows totalling US$25m last week, out of the 17 weeks this year, only 5 have seen outflows. Year-to-date outflows now sit at US$194m.

Most large altcoins saw minor outflows last week with minor inflows into Terra and Fantom totalling US$0.39m and US$0.25m respectively.

FTX Token, the utility token for the fast growing FTX crypto exchange, bucked the negative trend with inflows totalling US$38m last week, the largest of all crypto assets we track.

Blockchain equities finally succumbed to the negative sentiment with outflows totalling US$27m last week, only the third week to see outflows this year.

 

 

 

 

 

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.