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CoinDesk Consensus

According to a CoinShares report, digital asset investment products broke a six-week run of outflow strikes, recording $160 million in inflows in the week of March 20.

Last week’s inflow marks CoinShares’ most significant positive move since July 2022. data indicates Crypto-based investment products have been seeing outflows since the beginning of February, with totals reaching $408 million.

The report acknowledges that inflows have been seen relatively slowly compared to the broader cryptocurrency market. That could be due to “growing concerns among investors about the stability of the traditional financial sector,” it said.

Weekly crypto asset flow (Source: CoinShares)
Weekly crypto asset flow (Source: CoinShares)

The largest outflow was recorded in the week of March 6, with a total outflow of $255 million. At the time, this amount represented 1% of the market, wiping out the annual recorded inflow.

Flow by asset

Bitcoin (BTC)-based investment products recorded the largest inflow at $127.5 million, accounting for almost 80% of the total.

Flow by Asset (Source: CoinShares)
Flow by Asset (Source: CoinShares)

Short BTC and Solana (SOL) based investment products attracted the second and third largest inflows at $30.8 million and $4.8 million respectively. Short-BTC has registered inflows even during the six-week outflow strike, indicating that investment products have attracted the most inflows since the beginning of the year.

Ripple (XRP) and Polygon (MATIC) also recorded inflows worth $1.2 million and $1.9 million, respectively.

Meanwhile, Ethereum (ETH)-based investment products saw $5.2 million outflow. This marks his third consecutive week of ETH-based product leaks. According to reports, ETH’s Shanghai upgrade is due to take place on his April 12th, which could cause “investor anxiety.”

Flow by provider

For provider-based fund flows, ProShares confirmed an inflow of $68.6 million, accounting for 42% of the total.

Flows by Provider (Source: CoinShares)
Flows by Provider (Source: CoinShares)

21Shares and 3iQ followed closely as second and third with inflows of $17.8 million and $16.7 million respectively.

Meanwhile, CoinShares Physical and CoinShares XBT collectively lost $8.8 million, while Purpose saw another $1.3 million outflow.

US invests the most

The report also noted that the United States recorded a huge inflow, with a single contribution of $69.1 million, or 43% of the total of $160 million.

Germany, Canada and Switzerland followed the US with the second, third and fourth largest inflows with $57.8 million, $26.1 million and $16.6 million respectively.

Meanwhile, Sweden, Brazil and France recorded outflows of $5.8 million, $3.9 million and $100,000 respectively.

By Jules

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