James Butterfill from CoinShares notes that have been minor outflows, but inflows for Bitcoin. So, is negative sentiment “on the turn?”
As noted in the update from CoinShares, digital asset investment product flows cooled off, with relatively minor outflows totaling US$11.2 million. This run of negative sentiment “over the last 7 weeks now totals US$342m.”
Despite little activity on flows, trading volumes “were much higher than average, totaling US$2.8bn for the week, 90% above the YTD average.” Polygon and Ethereum “saw US$8.6m and US$3.2m outflow respectively.” While Solana, saw inflows “for the 9th consecutive week totaling US$0.7m.”
As mentioned in the update from CoinShares, crypto-asset investment product flows have shown signs of reduced activity, with fairly small outflows of just over US$11 million.
As noted in a blog post, this run of negative sentiment over the last 7 weeks now totals US$342m. Year-to-date digital asset investment products “remain in a net inflow position totaling US$165m, with the year so far beset with large gyrations of investor flows, very much driven by the hopes and concerns for regulation on digital assets.”
Last week exemplified this, “beginning the week investors had high hopes for a spot ETF approval in the US, only to be quashed by the announcement of a delay for all other spot ETF applications.” Despite little activity on flows, trading volumes “were much higher than average, totalling US$2.8bn for the week, 90% above the YTD average.”
Bitcoin saw inflows “totaling US$3.8m, while short bitcoin saw outflows for its 19th consecutive week totaling US$3.3m, with total assets under management (AuM) having fallen 48% from this years peak.”
Altcoins saw outflows, most notable “being Polygon and Ethereum, which saw US$8.6m and US$3.2m respectively.” While Solana, saw inflows “for the 9th consecutive week totaling US$0.7m, the YTD inflows of US$26m suggest it is the most loved altcoin amongst investors at present.”
Blockchain equities saw outflows for the 4th week, totaling US$25m.
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