The week ending June 19, 2023 saw small outflows totaling $5.1 million from digital asset investment products. report In the weekly flow of CoinShares Digital Assets Fund.

Despite these outflows, altcoins saw a total inflow of $2.4 million after the price crash last week, signaling a shift in investor sentiment.

Ethereum (ETH) recorded the largest outflow this week with a total of $5 million, while altcoins like XRP, Cardano and Polygon attracted inflows of $1 million, $600,000 and $200,000 respectively. These inflows show that investors are increasing their ETP positions in these cryptocurrencies despite the negative trend across digital asset investment products.

Coinshare Weekly Report
Source: CoinShares

Comparing this data to the previous week, when the Ethereum ETP saw its largest one-week outflow since its merger, the overall trend seems to be continuing with outflows. However, we are seeing a shift in investor sentiment towards all major altcoin ETPs except Tron.

This trend raises questions about the future of digital asset ETPs, especially in light of recent filings by Fidelity and BlackRock to launch a Bitcoin ETF. As CoinShares points out, rising interest rates have made investors cautious, and it remains unclear what impact these new proposals will have on the digital asset investment landscape if accepted.

Additionally, there are still uncertainties regarding several assets, including ADA and Polygon, which the SEC has stated in court filings that it considers these tokens to be securities in the Coinbase and Binance lawsuits. We saw an influx this week because of the declaration.

The long-term impact of this trend is still uncertain, but it highlights growing interest in digital assets through traditional financial instruments like ETPs.

Post-altcoin ETPs saw inflows within ETH, and BTC outflows as altcoins recovered first appeared on CryptoSlate.

By Jules

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