A prominent digital asset manager has revealed that crypto investment products saw outflows of around $50,000,000 last week, despite the inflows on the altcoins side.
CoinSharesMost of last week’s exits originated in North America, according to the latest Digital Asset Fund Flows Weekly report.
“We believe that the recent negative market sentiment in North America has emerged as a result of the regulatory and geopolitical problems caused by the war between Ukraine and Russia.”
In line with its market share, the leading crypto asset bitcoin Digital investment products associated with (BTC) experienced the heaviest exits last week.
“Bitcoin saw the biggest breakout with $33 million, half of the amount seen in the previous week. Outputs over these last two weeks are currently worth a total of $101M, but year-to-date flows remain positive at $64M.”
Ethereum (ETH) investment products also experienced much less outflows compared to the previous week, and the weight of market uncertainty was felt.
“Ethereum saw a total of $17 million in outflows last week, which is far less than the previous week, which saw $50 million in outflows.”
While ETH and BTC products faltered, many altcoin investment products entered the market last week. The big winners received entries of $1.1 million, $0.8 million, $0.7 million, and $0.3 million, respectively. XRP, polkadot (DOT), wither (LEFT) and Litecoin (LTC) happened. Those investing in multi-asset digital investment products also logged $0.6 million last week.
You can click here to read the full report.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.