Digital Assets See $120M In Outflows

May 03, 2022

  • 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]

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