Crypto Investment Products Witness $54M Outflows, Bitcoin Takes the Lead
According to CoinShares' weekly report, digital asset investment products witnessed a net outflow of $54 million in the week ending May 13.
This outflow trend has persisted for four consecutive weeks, resulting in a cumulative outflow of approximately $200 million, equivalent to 0.6% of total assets under management during that period.
Bitcoin (BTC) accounted for the majority of outflows, with nearly $38 million representing 80% of the total outflows. Conversely, eight alternative coins experienced inflows, as reported by CoinShares.
Over the past week, Bitcoin recorded outflows of $37.5 million, while short-Bitcoin products experienced outflows of $10.4 million. These figures indicate that investors have primarily focused on Bitcoin, according to CoinShares.
Other assets had comparatively smaller outflows, with multi-asset investments experiencing outflows of $6.7 million and Binance’s BNB token (BNB) witnessing outflows of $500,000.
On the positive side, Ethereum (ETH) and TRON (TRX) each saw inflows of $200,000, while Cardano (ADA) recorded inflows of $500,000. Ripple’s token (XRP) saw neither outflows nor inflows. Collectively, other assets experienced inflows totaling $500,000.
In total, all categories combined resulted in outflows of $53.7 million.
CoinShares highlighted that outflows were observed across multiple regions, indicating that the underlying sentiment leading to this trend is not confined to a limited number of investors.
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Germany accounted for the largest outflows, amounting to $30.5 million this week. The United States ranked second with outflows of $12.4 billion.
Brazil witnessed outflows of $7 million, while Switzerland recorded $4.2 million in outflows. Sweden experienced outflows totaling $400,000.
Australia and Canada were the only countries reporting positive inflows, with $700,000 and $200,000, respectively. France’s inflows and outflows were not reported, and all other countries had zero inflows or outflows.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
