Bad Start to the Month: Money Continues to Flee Digital Asset Investment Products

The theme continues for investors fleeing digital assets, according to Coinshare’s weekly report on money flows.

The report states that digital asset investment products experienced outflows of $ 15.6 million last week, and for the month of November, a “bad start” money exited digital assets to the tune of $19 million.

“…the flows activity remains very low relative to history, with this doldrum period lasting 8 weeks now.”

Coinshares states that Bitcoin saw outflows totaling $13 million for the week, following a 7-week run of inflows, post the US Federal Reserve raising interest rates by a further 75 basis points.

Short Bitcoin products also experienced outflows of  $7.1 million or a three-week total of outflows of $28 million

A bright note is that XRP saw inflows of $1.1 million – reflecting positive news in the ongoing legal battle with the Securities and Exchange Commission.

Regionally, outflows in the US, Canada, and Brazil saw exits of $21 million, $2.1 million, and $1.8 milion respectively. On the flip side, Germany experienced inflows of $4 million and Switzerland inflows of $6.8 million.

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