Digital asset investment products see outflows for 4th consecutive week totaling $200M

Digital plus concern products experienced outflows of $54 cardinal during the week ending May 13, CoinShares said successful its weekly report.

That inclination of outflows has been ongoing for 4 consecutive weeks, bringing the period’s wide outflow to astir $200 cardinal and representing 0.6% of full assets nether management.

Bitcoin (BTC) specifically saw outflows that amounted to astir $38 million, accounting for 80% of each outflows. Eight altcoins saw inflows, CoinShares said.

Flows by asset

Bitcoin (BTC) saw outflows of $37.5 cardinal implicit the past week, portion short-Bitcoin products saw outflows of $10.4 cardinal implicit that timeframe. These statistic bespeak that investors person been “almost solely focused connected the asset,” CoinShares said.

Certain assets saw overmuch smaller outflows. Multi-asset investments saw $6.7 cardinal successful outflows, portion Binance’s BNB token (BNB) saw outflows of $500,000.

Some assets saw affirmative inflows. Ethereum (ETH) and TRON (TRX) each saw inflows of $200,000, portion Cardano (ADA) saw inflows of $500,000. Ripple’s XRP token (XRP) saw zero outflows and inflows. Other assets collectively saw inflows of $500,000.

All categories combined amounted to $53.7 cardinal of outflows.

Flows by country

CoinShares besides noted that outflows occurred crossed respective regions, suggesting that the sentiment that caused the inclination is not constricted to a tiny fig of investors.

Germany was liable for astir outflows, with $30.5 cardinal this week. The U.S. ranked second, with $12.4 cardinal successful outflows.

Brazil was liable for $7 cardinal successful outflows, portion Switzerland was liable for $4.2 million. Sweden saw $400,000 successful outflows.

Only Australia and Canada reported affirmative inflows, with $700,000 and $200,000, respectively. France’s inflows and outflows were not reported, and different countries had zero inflows oregon outflows.

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