Bearish Trend Persists: Coinshares Sees $17M Outflows From Digital Asset Products

Interestingly, volumes across investment products were low at US $844 million for the week, but a similar situation was seen for the entire Bitcoin market volumes, averaging US $57bn, 15% lower than usual.

This week in Fund Flows, by our Head of Research @jbutterfill.

Outflows of US$17m highlight ongoing regulatory concerns.
Read the full report – https://t.co/1fwR4hk2Lm

Here’s your recap of last week’s crypto flows ? (1/6) pic.twitter.com/yHJHecjJpf

— CoinShares (@CoinSharesCo) March 6, 2023

Regionally, sentiment appears to have flipped, with the US seeing inflows totaling US $7.6 million, while Europe saw outflows of US $23 million. Despite the recent inflows into short-bitcoin, total assets under management (AuM) have only risen by 4.2% year-to-date compared to long-bitcoin AuM, which has risen by 36%.

There were minor inflows in altcoins last week, with Ethereum and Solana seeing $0.7 million and $0.34 million, respectively. However, Binance and Cosmos saw outflows of US $0.38 million and US $0.21 million, respectively.

In contrast, blockchain equity investors remained bullish, with inflows of $1.6m last week. The poor sentiment likely represents continued investor concerns over regulatory uncertainty for the asset class. While there has been a recent uptick in positive regulatory developments, such as the US SEC’s approval of a Bitcoin futures ETF, there is still a significant amount of uncertainty and potential risk in the digital asset market. Investors must remain vigilant and informed as the market continues to evolve.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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