Crypto investment products saw outflows of $17 million last week
Digital asset investment products saw small outflows totaling $17 million from February 27 to March 3, marking the fourth straight week of outflows, according to CoinShares data.
“Volumes across investment products were low at $844 million for the week,” the report cites, as regional sentiment begins to shift. Last week, the US recorded $7.6 million in inflows, while Europe recorded $23 million worth of outflows.
Blockchain stock investors also showed bullish sentiment throughout the week, registering $1.6 million in inflows.
Flows by asset
Bitcoin (BTC)-based investment products recorded outflows worth $20.1 million, while short-bitcoin saw inflows totaling $1.8 million, CoinShares data revealed.
According to the data, Binance (BNB) and Cosmos (ATOM) also recorded outflows worth $0.38 million and $0.21 million, respectively.
On the other hand, the majority of altcoins saw inflows during the same week. Ethereum (ETH) and Solana (SOL)-based investment products recorded inflows of $0.7 million and $0.3 million, respectively. Multi-asset products also grew by another $0.8 million.
Streams by provider
The report also revealed that the majority of providers recorded outflows despite the positive sentiment experienced by altcoins.
All significant providers, except for ProShares and Purpose, recorded outflows during the week of February 26 to March 3. CoinShares XBT and Physical saw a combined $1.8 million in outflows.
21Shares, CI Investments and others recorded $7.3 million, $0.9 million and $15.6 million, respectively. ProShares and Purpose, on the other hand, grew by an additional $8.3 million and $0.4 million, respectively.
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