Investor hesitancy continued as digital asset investment products witnessed a modest sum of $126 million in outflows last week.
This reluctance could potentially be due to the stall in positive price trends. While trading volumes increased slightly from $17 billion to $21 billion compared to the previous week, activity in ETP/ETFs decreased relative to the overall market.
Investor Hesitancy Prevail
In the past month, these investment vehicles accounted for 40% of total volumes on reputable exchanges, but last week, they represented only 31%, reflecting caution among investors, according to the latest report by CoinShares.
The latest downturn comes a week after digital asset investment products’ year-to-date inflows reached a fresh peak of $13.8 billion, massively exceeding the $10.6 billion established in 2021.
In terms of regions, the United States suffered the most significant outflows to $145 million, trailed by Canada and Switzerland with outflows of $6 million and $5.7 million, respectively. Over the same period, Sweden also noted outflows of $.5.2 million. On the other hand, investors in Germany perceived recent price declines as a chance for investment, resulting in inflows of $29 million last week.
Meanwhile, Brazil and Australia settled with $3 million and $1.6 million in weekly inflows.
Another Good Week for Altcoins
Bitcoin experienced outflows of $110 million but maintained positive inflows of $555 million for the month, while Short-bitcoin strategies ended their three-week streak of outflows, recording minor inflows of $1.7 million, likely capitalizing on recent price declines.
However, it was Ethereum that faced the most setbacks, with outflows totaling $29 million last week, marking its fifth consecutive week of outflows. Investment products providing exposure for Solana also saw outflows of $3.6 million last week.
The rest of the altcoins had another successful week. CoinShares list featured “esoteric names” such as Decentraland, Basic Attention Token, and LIDO, which attracted inflows of $4.9 million, $2.9 million, and $1.8 million, respectively.
The regulars – Litecoin, Polkadot, and XRP – also noted inflows of $1.6 million, $0.8 million, and $0.3 million, respectively, over the past week.
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