Volume 99: Digital Asset Fund Flows Weekly Report
7-week bull run on Bitcoin-short positions end with outflows of US$5m
- Digital asset investment products saw inflows totalling US$8.3m last week, a continuation of the tepid investor appetite for digital assets at present.
- Short-bitcoin investment products AuM rose to US$172m, the highest on record, prompting some profit taking with the first outflow in 7 weeks totalling US$5.1m.
- Investors dipped their toes into Ethereum which saw inflows totalling US$7m last week.
- The recent launch of a short-Ethereum investment product saw minor inflows totalling US$1.1m.
Digital asset investment products saw inflows totalling US$8.3m last week, a continuation of the tepid investor appetite for digital assets at present. Trading turnover for investment products remains half the weekly average for this year at US$1bn. Interestingly, there has been less price depreciation or outflows, as there has been in recent historical dollar rallies.
Regional flows highlight a minor divergence between North America and Europe, which saw US$9.4m outflows and US$15m inflows respectively.
Bitcoin saw minor inflows totalling US$0.1m with recent price movements pushing total assets under management (AuM) to US$15.9bn, the lowest point since end-June. Conversely, short-bitcoin investment products AuM rose to US$172m, the highest on record, prompting some profit taking with the first outflow in 7 weeks totalling US$5.1m.
Investors dipped their toes into Ethereum which saw inflows totalling US$7m last week, the first positive sentiment after the successful merge and following a 4-week run of outflows. The recent launch of a short-Ethereum investment product saw minor inflows totalling US$1.1m.
Investors continue to favour a multi-asset (multi-token) approach with inflows totalling US$1.8m last week. Cosmos and XRP both saw inflows totalling US$0.4m and US$0.5m respectively.
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