Weekly flow of crypto assets has this profit making statistics
Inflows into digital asset investment products totaled $3 million last week, bringing the sixth consecutive week of inflows to a total of $529 million, CoinShares found in a recently published report.
Last week’s inflow represented a 96% decrease from the $81 million recorded in inflow the previous week.
Inflows to investment products for digital assets were total $3 million last week, bringing total inflows since the beginning of the month to $3.1 million.
CoinShares found that last week’s inflow represented 1.7% of total assets under management (AuM). Furthermore, it was said that despite the market downturn in the last quarter, 32 new investments have been launched, primarily in altcoins.
Bitcoin and Bitcoin short in the past week
According to the report, Bitcoin logged outflows last week. These payments totaled $8.5 million. The outflows recorded brought year-to-date (YTD) inflows for the sovereign to $311.9 million, down from the YTD index of $326.1 million recorded last week.
Still, a king, Bitcoin’s YTD inflow represents 63% of the YTD total inflow of $492 million recorded by all assets assessed by CoinShares in the report.
Furthermore, Coinhares found that short-Bitcoin investment products also recorded outflows totaling $7.5 million. It was the second consecutive week of outflows for short-Bitcoin. Last week saw outflows of $2.6 million.
These outflows, according to CoinShares, suggest that “investors believe bitcoin prices have fallen.”
What about Ethereum?
For Ethereum, inflows last week were $16 million, bringing it to nearly seven consecutive weeks of inflows of $159 million.
“We believe this turnaround in investor sentiment is due to greater clarity about the timing of The Merge where Ethereum shifts from proof-of-work to proof-of-stake,” CoinShares stated.
However, the report stated that on a YTD basis, the leading all-time high had seen outflows of $300 million.
Regionally, most of the inflows were from North America and Europe, with inflows from the US and Germany at $16.8 million and $7.8 million respectively.
All other regions considered in the report recorded inflows except Canada, which had an outflow of $29.9 million.
Commenting on the reason for the low weekly influx, CoinShares stated thus:
“Despite the improvement in sentiment, trading volumes remain very low at $1.1 billion for the week against the weekly year-to-date average of $2.4 billion. We believe the low participation is seasonal as a similar trend has been seen in previous years.”