Investment Products Record Sixth Week of Outflows

Investment products recorded outflows for the sixth week in a row.

According to a CoinShares report, the market saw an outflow of $9 million last week. Sales for the week were the lowest, reaching $820 million. This number is much lower than the average of $1.3 billion.

As was the case a week ago, there is a difference in sentiment from a regional perspective. Capital inflows reached $16 million in Europe, where investors see recent regulatory disappointment as an opportunity. Meanwhile, US investors withdrew $14 million due to turmoil in the local cryptocurrency market.

“The difference in sentiment from a regional perspective was evident this week, with inflows to Europe totaling US$16 million, with investors seeing the recent regulatory disappointment as an opportunity. US investors withdrew US$14 million.

The CoinShares report states.

Bitcoin-based products saw outflows for the third week in a row. Last week, there was an outflow of $6 million. The $15 million inflow into short Bitcoin (BTC) seems surprising to analysts as there have been outflows amounting to 78% of assets under management (AuM) over the past 22 weeks, suggesting that investors continue to liquidate their short positions.

Ethereum (ETH) recorded capital outflows for the sixth week in a row, with outflows of $2.2 million. Investment products with other altcoins have also struggled this year, with a small but steady stream of investment outflows now standing at $32 million for the year.

Analysts believe investors are becoming more aware of the altcoin market, with continued inflows into XRP and Solana (SOL) worth $0.66 million and $0.31 million, respectively.