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On Oct 24, European cryptocurrency investment firm Coinshare published its Digital Asset Fund Flows Report, which revealed that digital asset investment products saw $5 million worth of cumulative outflows last week, in a continuation of what it calls an “apathetic period” that began in September 2022.
Most notably, investment product volumes dropped to $758 million during the week, the lowest since October 2020 and far below the weekly average of $7 billion around this time last year when crypto markets were in an uptrend.
Data in the report revealed that Bitcoin (
$63,287.00 ) (BTC) investment products saw minor inflows of $4.6 million, marking the sixth consecutive weekly gain, while short- Bitcoin ( $63,287.00 ) investment products saw outflows of $7.1 million.
Ether (ETH) investment products saw outflows for the third successive week totaling $2.5 million, bringing the total of outflows post-Merge to $11.5 million, just 0.2% of assets under management. XRP (
$1.06 ) ( XRP ( $1.06 ) ) saw inflows of $ 8 million; while the figure seemed low, it’s reportedly close to the largest since Ripple’s lawsuit with the United States Securities and Exchange Commission began.
Related: Institutional crypto adoption requires robust analytics for money laundering
So far this year, Bitcoin ( $63,287.00 ) funds have seen a net worth of $296.2 million worth of inflows, while Ether funds have seen a net worth of $371.2 million in outflows. The figures suggest that investment managers are opting for the relative stability and longer track record of Bitcoin ( $63,287.00 ) during the bear market.
Coinshares’ data revealed that Sweden, Canada and the United States saw the most action with outflows of $4.5 million, $1.9 million, and $1.2 million respectively, while Germany, Brazil, and Switzerland all saw minor inflows.
$1,877.16 ) ’s?
