Ebb and Flow: Digital Assets Experience Outflow in Past Week, Lowest AUM Since July 2021

 

Coinshares has distributed its weekly report on digital asset activity and according to their numbers, last week saw a $141 million outflow in digital assets. Coinshare states that currently total assets under management now stand at $38 billion – the lowest amount since July 2021.

Bitcoin, the most popular crypto experienced an outflow of $154 million.

Blockchain equity investment products also saw outflows of $20 million as it bounces around $30,000 more than half of its all-time high.

Of course, none of this should really come as a surprise as traditional stock markets experienced the 8th weekly decline in a row – an event that has not occurred since 1923. So a very long time.

The aftershocks of the LUNA and TerraUSD (UST) implosion certainly do not help. Meanwhile, some policymakers have become more critical of crypto-assets as there is blood in the water making it easier to throw shade at digital assets.

Coinshares shares that multi-asset or multi-crypto investment products are the loan bright point as these experienced inflows of $9.7 million.

Expect crypto-asset markets to remain choppy as both traditional and innovative markets are still looking for solid footing. While US markets stabilized and rallied today – one day does not a year make. Rough water ahead.

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