CoinShares Released Its New Report: What’s the Latest in Bitcoin and Altcoin Funds?

Cryptocurrency analytics firm CoinShares, weekly bitcoin and altcoin published its new report on fund inflows and outflows.

Digital asset investment products had a minor outflow of US$15.6 million total last week and got off to a bad start to the month with a total exit of US$19 million.

XRP Funds See Net Inflows for the Third Consecutive Time as Bitcoin Funds Fall

Bitcoin saw a total of US$13 million outflows during the week. This comes after 7 weeks of entry and the FOMC raising interest rates another 75 basis points.

Short Bitcoin investment products also experienced a total outflow of 7.1 million US dollars for the third week in a row, reaching a total outflow of 28 million US dollars.

With the SEC becoming increasingly fragile in litigation against Ripple, XRP funds saw net inflows for the third week in a row, with $1.1 million in inflows demonstrating investor confidence, according to CoinShares.

However, cash flow activity remains very low compared to the past and this sluggish period has been going on for 8 weeks.

Regionally, negative activity was concentrated in the Americas, with outflows of US$21 million, US$2.1 million and US$1.8 million in the US, Canada and Brazil, respectively. This was offset by inflows of US$4 million from Germany and US$6.8m from Switzerland.

Most of the negative sentiment was directed towards Bitcoin, with a total of $13 million outflows over the week.

Short-Bitcoin investment products also saw a total outflow of $7.1 million for the third week in a row, bringing total outflows to $28 million (22% of total assets under management), the largest outflow on record.

Ethereum saw a small entry totaling $2.7 million after 4 weeks of exits.

*Not investment advice.