Global Digital Assets See $17M in Outflows
Flows reveal sentiment is divided between America and Europe.
Takeaways
- Digital asset investment products saw minor outflows last week totalling US17m.
- Regionally the flows reveal that opinions are divided, with inflows totalling US$20m into European exchanges but outflows of US$36m from American exchanges.
- Bitcoin bore the brunt of the outflows which totalled US$21m last week, this being the second consecutive week of outflows bringing month-to-date outflows to US$29m. Short-bitcoin saw minor inflows totalling US$2.6m.
- Blockchain equities saw inflows totalling US$8m last week signifying improving sentiment.
Digital asset investment products saw minor outflows last week totalling US17m. It is difficult to discern if this is a meaningful change in sentiment given its small size although minor outflows were seen across a broad set of providers. It also comes at a time of low trading volume and a recovery in prices suggesting there could be an element of minor profit taking.
Regionally the flows reveal that opinions are divided, with inflows totalling US$20m into European exchanges but outflows of US$36m from American (North & South America) exchanges.
Bitcoin bore the brunt of the outflows which totalled US$21m last week, this being the second consecutive week of outflows bringing month-to-date outflows to US$29m. Short-bitcoin saw minor inflows totalling US$2.6m.
A broad set of altcoins saw inflows totalling US$3.9m last week, although there were no discernible outperformers with the exception of Uniswap which saw inflows totalling US$100k, while small, relative to its total assets under management of US$1.3m it was a significant 6.6%.
In contrast to direct digital assets, blockchain equities saw inflows totalling US$8m last week signifying improving sentiment. Although year-to-date inflows of US$15.5m signify tepid sentiment at the moment.
Contact James Butterfill at [email protected]
