Digital asset manager CoinShares says institutional crypto investment products suffered their fourth consecutive week of outflows last week.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional crypto investment products suffered outflows of nearly $20 million last week, along with small inflows in short investment products.
“Digital asset investment products saw small outflows totaling US$17 million last week, marking the 4th consecutive week of negative sentiment.”
Bitcoin (BTC) products received the largest $20.1 million outflow. Meanwhile, short Bitcoin products saw a small $1.8 million inflow. Short BTC products have enjoyed the second highest inflow of the year so far, about $50 million versus Bitcoin’s $126 million.
Coinshares says it believes regulatory uncertainty may be to blame for investors rushing to short BTC products.
“Despite recent inflows into short bitcoin, total assets under management (AuM) are up just 4.2% YTD [year-to-date] compared to an increase of 36% compared to long Bitcoin AuM, suggesting that short positions have not delivered the returns some investors had expected so far this year. Nevertheless, it likely represents lingering investor concerns about regulatory uncertainty for the asset class.”
Most altcoin investment products saw small inflows last week. Multi-asset investment vehicles, which invest in a basket of digital assets, pulled in $0.8 million in inflows last week. Ethereum (ETH) products brought in $0.7 million, while Solana (SOL) vehicles brought in $0.3 million. Binance (BNB) and Cosmos (ATOM) products both had small inflows, $0.4 million and $0.2 million respectively.
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Featured image: Shutterstock/Aleksandr Kukharskiy