Digital Asset Investment Products Experience Second Consecutive Week of Outflows, Totaling $206M
Digital asset investment products have faced another week of outflows, marking the second consecutive week of declining investor interest.
The outflows amounted to a total of $206 million, while trading volumes in Exchange Traded Products (ETPs) experienced a slight dip, reaching $18 billion, according to a report from CoinShares .
Bitcoin investment products witnessed outflows of $192 million,
However, the report mentioned that few investors viewed this as an opportunity for short-selling, with short-Bitcoin strategies experiencing outflows of $0.3 million.
The trading volumes in ETPs accounted for a smaller percentage of total bitcoin volumes, standing at 28%.
This figure represents a significant decrease from the 55% recorded just a month ago.
The data indicates a diminishing appetite among ETP/ETF investors, possibly due to expectations of prolonged high interest rates by the Federal Reserve (FED).
The negative sentiment surrounding digital asset investment products was primarily observed in US ETFs, which saw outflows amounting to $244 million.
The outflows were primarily focused on the existing ETFs, while newly issued ETFs continued to receive inflows, albeit at lower levels compared to previous weeks.
In contrast, Canada and Switzerland experienced inflows of $30 million and $8 million, respectively, while Germany saw minor outflows of $8 million.
CoinShares: Digital asset investment products saw outflows for the second consecutive week totalling US$206m, with trading volumes in ETPs dipping slightly at US$18bn. Ethereum saw US$34m outflows, marking its 6th consecutive week. https://t.co/ZGL8bl5URM
— Wu Blockchain (@WuBlockchain) April 22, 2024
Meanwhile, Ethereum faced outflows of $34 million for
Read more on cryptonews.com
