Digital asset investment products recorded a cumulative weekly outflow of $5 million during what CoinShares describes as a “period of apathy.”
On October 24, European crypto investment firm CoinShares released its “Digital Asset Funds Flows Report” last week, which says its digital asset investment products have seen a cumulative $5 million outflow above what it calls “period indifference” that began in September 2022. .
Notably, investment product volumes fell to $758 million, the lowest since October 2020, well below the weekly average of $7 billion around the same time last year when the crypto markets were in an uptrend.
The report states that Bitcoin
Investment products saw a marginal entry of $4.6 million, marking the sixth consecutive weekly gain, while short Bitcoin investment products reported an outflow of $7.1 million.
investment products reported total outflows of $2.5 million for the third week in a row, bringing total post-merger output to $11.5 million, or just 0.2% of assets under management. XRP
It received an entry of $8 million. While this figure may seem low, it is reportedly close to the highest level since the US Securities and Exchange Commission’s lawsuit against Ripple began.
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So far this year, Bitcoin funds have received a net inflow value of $296.2 million, while Ethereum funds have received a net exit value of $371.2 million. The numbers show that investment managers prefer the relative stability and longer experience of Bitcoin during a bear market.
CoinShares data shows Sweden, Canada and the US saw the most exits with $4.5 million, $1.9 million and $1.2 million respectively; Germany, Brazil and Switzerland experienced minor inflows.