Digital asset investment products saw small outflows last week totaling $27 million. Thus, for three consecutive weeks, there was a total outflow of $ 46 million. History shows that this is partly due to seasonal influences. However, it also underlines the continued disinterest after the recent price drops, according to experts. Bitcoin was almost the focus of the exits, with a total of $29 million. Also, 3 altcoin projects have seen small inflows.
“Exits are due to seasonal effects”
Crypto-asset investment products saw small outflows totaling $27 million last week. This adds to the debuts totaling $46 million for three consecutive weeks.
It is worth noting that volumes in investment products remained very low, reaching the lowest level since October 2020, with a total of $901 million last week. History shows that this is partly due to seasonal influences. However, experts also underline the continued disinterest after the recent price drops.
Regional entrances and exits
Regionally, there were minor departures in general. However, the USA, Sweden and Germany came to the fore with outflows of 20 million dollars, 4.2 million dollars and 2.3 million dollars, respectively. Brazil was the only outlier to see small inflows totaling $1.2 million.
While Bitcoin and Ethereum exited, 3 altcoins saw entry
Leading crypto Bitcoin has seen exits for the third week in a row totaling $29 million. Thus, Bitcoin investment products have become the focus of almost stand-alone exits. Meanwhile, investors are also continuing to add to their Short Bitcoin investment products. Entries totaled $1 million last week. According to experts, both mean minimal but continued caution from investors stemming from the US Federal Reserve’s continued hawkish rhetoric.
Leading altcoin Ethereum has seen small outflows of $1 million. cryptocoin.com As you can follow, Ethereum was the center of attention due to the Merge that will take place in September. According to experts, this implies that despite increased confidence due to Merge, investors prefer to wait for it to happen before adding to positions. In addition, Tron (TRX) also debuted, although with a small consistency. Meanwhile, there were also altcoin projects that were gaining traction. Solana (SOL), Cardano (ADA) and Ripple (XRP) have managed to enter the report list of CoinShares. However, Tezos, Chainlink, and Uniswap have also seen very small entries, albeit negligibly small.
