Digital Asset Outflows Continue for the Fourth Week, but Selective Investments Show Optimism in the Market: According to CoinShares
According to CoinShares' Twitter, the leading alternative asset manager in Europe specializing in digital assets, digital asset investment products have seen a fourth consecutive week of outflows, totalling $54 million. This has brought the total outflow to $200 million.
These outflows have been widespread across regions, reflecting a negative sentiment among investors that isn't limited to a few players. Interestingly, a significant portion of these outflows was seen in Germany, amounting to $30 million. In the United States, 84% of the outflows came from investors selling their short positions.
Bitcoin ($BTC) remains the focal point of investor activity, with outflows totalling $38 million. Over the past four weeks, Bitcoin has witnessed an outflow of $160 million, representing 80% of all outflows over this period.
While outflows have been a concern, some investors are showing a daring streak. This week, multi-asset investments saw outflows of $7 million, but there were notable inflows into Cardano (#ADA), Tron (#TRX), and Sandbox (#SAND). This suggests a more adventurous and selective approach by investors in the digital asset space.
Despite the continued outflows from digital asset investment products, it's important to highlight that they represent only 0.6% of total Assets under Management (AuM). This suggests that while the market is experiencing short-term volatility, the long-term outlook for digital asset investments remains robust. CoinShares continues to set a new standard for institutional excellence in the digital asset industry, even in these uncertain times.