- Digital asset investment products saw outflows totalling US$39m with total assets under management (AuM) now at their lowest point since February 2021, at US$36bn, down 59% from the November 2021 peak.
- Bitcoin saw inflows totalling US$28m last week and looks to be benefitting from weak prices with month-to-date inflows at US$46m.
- Short-Bitcoin AuM peaked to an all-time-high of US$64m at the beginning of last week but saw record outflows totalling US$5.8m suggesting negative sentiment is close to its peak.
Digital asset investment products saw outflows totalling US$39m with total assets under management (AuM) now at their lowest point since February 2021, at US$36bn, down 59% from the November 2021 peak. Despite the recent negative sentiment, year-to-date flows remain positive at US$403m.
The aggregate data masks a significant regional polarisation of views, with last weeks’ outflows almost solely from Canadian exchanges (US$141m), while the US, Europe and Brazil exchanges saw inflows totalling US$79m, US$12m and US$12m respectively.
Bitcoin saw inflows totalling US$28m last week and looks to be benefitting from weak prices with month-to-date inflows at US$46m. Short-Bitcoin AuM peaked to an all-time-high of US$64m at the beginning of last week but saw record outflows totalling US$5.8m suggesting negative sentiment may be close to its peak.
Multi-asset investment products, the most resilient in terms of inflows this year, saw inflows totalling US$9m last week.
Ethereum continues to suffer with outflows totalling US$70m last week having suffered 11 straight weeks of outflows, bringing year-to-date outflows to US$459m. Solana looks to be benefitting from investors worries over The Merge (ETH2), with inflows of US$0.7m last week and US$109m year-to-date.
Contact James Butterfill at [email protected]
