Digital asset management firm CoinShares said last week that institutional investors in crypto products suffered capital outflows for the second consecutive week.
In its latest Digital Asset Fund Flow Report, CoinShares says its digital asset investment products lost $206 million in outflows last week, bringing the two-week total outflows to nearly $312 million. .
According to CoinShares, investor interest in crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) has waned amid growing concerns about rising interest rates.
“Digital asset investment products saw a total outflow of $206 million for the second week in a row, with ETP trading volume slightly down to $18 billion.
These trades account for 28% of Bitcoin's total trade volume (which continues to grow), down from 55% a month ago. This data suggests that ETP/ETF investors' appetite for investment continues to decline, which likely means the Fed will likely keep interest rates at such high levels for a longer period of time than expected. This is probably based on this prediction. ”
Institutional investors in Canada and Switzerland had inflows of $30 million and $8 million, respectively, while Germany saw a smaller outflow of $8 million. Meanwhile, negative sentiment in US ETFs led to massive outflows of $244 million regionally.
As usual, Bitcoin (BTC) took the brunt of the outflow, losing $192 million. Ethereum (ETH) products have seen outflows for six consecutive weeks, reaching $34 million last week.
However, certain crypto products have managed to attract inflows. Multi-asset investment vehicles, products that invest in multiple cryptocurrencies, recorded $9 million in inflows last week, with Litecoin (LTC) and Chainlink (LINK) attracting $3.2 million, or $1.7 million each. .
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Featured image: Shutterstock/jesadaphorn/Vladimir Sazonov
