Digital asset investment products experienced minor outflows last week amounting to $17 million.
Although the outflows broke a six-week streak of inflows, the latest CoinShares report hesitates to suggest this could be “a meaningful change in sentiment.”
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Weeks past have also seen low trading volumes and mixed markets typically resulting in a relatively small amount overall, albeit positively.
However, this past week the report highlighted that minor outflows were seen across a broad set of providers, adding that a recovery in prices suggests an element of minor profit taking.
Around the world, the Americas carried the outflows, while Europe persevered with significant inflows in several countries.
With $25 million in outflows, Canada saw the most capital leave crypto products last week, followed by the United States with $9.5 million and Brazil with $1 million.
This is the second week in a row Canada led with such heavy outflows. Crypto products in Germany meanwhile saw an injection of $13.9 million, in addition to $6.7 million in Sweden.
Short Bitcoin shows minor inflows
After a week playing second fiddle, Bitcoin-based products saw most of the outflows this past week, totaling at $21 million.
This second week of outflows brings month-to-date outflow to $29 million. On the flip side, short Bitcoin saw minor inflows totaling $2.6 million.
Inflows for Ethereum were negligible overall barely amounting to $100,000. It was among a broad set of altcoins with inflows totaling $3.9 million last week.
With similarly small amounts to account for, there were no discernible standouts, except for Uniswap. While the inflows of $100,000 it accrued differed little from the others, relative to its total assets under management of $1.3 million, it represented a significant 6.6%.
Meanwhile, inflows into blockchain equities amounted to $8 million last week. This contrast with direct digital assets signifies improving sentiment, according to the report.
However, its year-to-date inflows of $15.5 million currently suggest that it still remains rather tepid.
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