Digital Assets Had $9M in Outflows Last Week

• Digital asset investment products saw outflows for the sixth consecutive week with $9 million in outflows last week, according to CoinShares, a European digital-asset management firm. 
• A divergence in sentiment from a regional perspective was evident, with inflows into Europe totaling $16 million as investors see recent regulatory disappointment in Europe as a buying opportunity. Meanwhile, U.S. investors pulled out $14 million. 
• Investors are becoming more discerning with altcoins with continued inflows into XRP and Solana totaling $660,000 and $310,000, respectively. 

Digital asset investment products saw outflows for the sixth consecutive week with $9 million in outflows last week. Volumes were low at $820 million for the week, well below the average of $1.3 billion for the year so far, matching a similar low volume trend in the broader digital asset market. 

Similar to the prior week, a divergence in sentiment from a regional perspective was evident this week, with inflows into Europe totaling $16 million. Investors see recent regulatory disappointment in the continent as an opportunity. Meanwhile, U.S. investors pulled out $14 illion, seemingly in a continued funk over recent events. 

Bitcoin saw minor outflows for the third consecutive week with $6 million in outflows, while short-bitcoin had $2.8 million in outflows. The $15 million in inflows into short-bitcoin for one week this month look more like an isolated event as there have been outflows totaling 78% of assets under management over the course of the last 22 weeks, suggesting investors are continuing to capitulate over their short positions. 

Ethereum continues to suffer, with outflows for the sixth consecutive week totalling $2.2 million. Multi-asset investment products have also suffered this year, seeing a small but steady trickle of outflows that now total $32 million for the year so far. It seems investors are becoming more discerning with altcoins, though, with continued inflows into XRP and Solana totaling $660,000 and $310,000, respectively.