Weekly Global Digital Assets See $9M in Outflows

Market volumes remain low.

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

Takeaways

  • Digital asset investment products saw minor outflows last week totalling US$9m last week with volumes at US$1bn, 55% off the year average and the 2nd lowest this year.
  • Bitcoin, where the mild negative sentiment has been focussed, saw a third consecutive week of outflows totalling US$15m.
  • Ethereum saw weekly inflows totalling US$3m and has seen a turn-around in sentiment. Since mid-June, as there has been improving clarity on the Merge, Ethereum has seen a 9-week run of inflows totalling US$162m.

 

 

Digital asset investment products saw minor outflows last week totalling US$9m last week with volumes at US$1bn, 55% off the year average and the 2nd lowest this year, suggesting low participation from investors at present. The summer doldrums persist for now.

Regionally, the outflows were focussed on the US, Germany & Sweden totalling US$10m, US$2.4m and US$2.1m respectively. While minor inflows were seen in Brazil and Switzerland totalling US$2.5m and US$1.9m respectively.

Bitcoin, where the mild negative sentiment has been focussed, saw a third consecutive week of outflows totalling US$15m. Short-bitcoin saw very minor inflows totalling US$0.2m over the same period.

Ethereum saw weekly inflows totalling US$3m and has seen a turn-around in sentiment. At the mid-point in June Ethereum investment products had seen year-to-date outflows totalling US$459m. Since this point, as there has been improving clarity on the Merge, Ethereum has seen a 9-week run of inflows totalling US$162m.

Other altcoins saw unremarkable inflows, most notably Cardano with inflows totalling US$0.5m, while Solana saw outflows for a second week totalling US$1.4m.

Blockchain equities experience similar mild negative sentiment with outflows totalling US$1.6m last week.

 

 

 

 

 

 

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.