Volume 131: Digital Asset Fund Flows Weekly Report
4th Week of Outflows, Investors Focus on Bitcoin
- Digital asset investment products saw a 4th consecutive week of outflows totalling US$54m, bringing the total outflow to US$200m, representing 0.6% of total assets under management (AuM).
- Bitcoin saw outflows totalling US$38m, representing 80% of all outflows over the period, when combined with short-bitcoin outflows they highlight that the recent investor activity has almost solely been focussed on the asset.
- Inflows were seen across 8 different altcoin assets, suggesting investors are becoming more adventurous.
Digital asset investment products saw a 4th consecutive week of outflows totalling US$54m, bringing the total outflow to US$200m, representing 0.6% of total assets under management (AuM). The recent price declines have seen total AuM fall by 13% since their mid-April peak.
Similar to last week, the outflows were broad from a regional perspective, suggesting negative sentiment is not concentrated on just a few investors. That said, the outflows were focussed primarily in Europe, particularly when taking into account that 84% of outflows in the US were from investors selling out of short positions.
Bitcoin saw outflows totalling US$38m, with the last four weeks of outflows now totalling US$160m. This represents 80% of all outflows over the period, when combined with short-bitcoin outflows they represent US$201m highlighting that the recent investor activity has almost solely been focussed on the asset.
Multi-assets investments saw US$7m outflows last week while, unusually, inflows were seen across 8 different altcoin assets, suggesting investors are becoming more adventurous, and selective. The most notable inflows were to Cardano, Tron and Sandbox which all saw inflows of US$0.5m, US$0.23m and US$0.2m respectively. Binance was the only altcoin to see outflows totalling US$0.5m.
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