Cardano, Polkadot saw baffling inflows while AuM touched its toes

ambcrypto.com:

Cryptocurrencies still remain weak in light of the immense bloodshed after the dramatic crash of the stablecoinTerraUSD. This sudden fall triggered a sell-off and chaotic situation within the crypto market. Despite the traumatic turn of events, investors have managed to maintain some faith in digital assets.

Reportedly, digital asset investment products saw record weekly inflows that amounted to $274 million around the period of 13 May.

Digital asset products failed to reciprocate a similar narrative as they sustained a major loss. CoinShares’ latest Digital Asset Fund Flows weekly report highlighted this grieving scenario. The crypto market stayed under overall pressure as digital assets investment products registered $141 million in net outflows last week.

Source: CoinShares

The ongoing volatility has led to panic-selling, but the dip is also being seen as an opportunity by a section of investors. While the aggregate sentiment is predominantly bearish. James Butterfield, head of research at CoinShares shared a geographical insight that stated,

“Outflows totalling US$154m were seen in the Americas while Europe saw inflows totalling US$12.4m. Total assets under management (AuM) are now at US$38bn, their lowest point since July 2021.”

Well, BTC, the star of the previous report, fell miserably. After the previous week of strong inflows, the Bitcoin funds failed to keep the momentum going. The outflows totalled $154 million last week, while short Bitcoin saw outflows totalling $1.1 million.

Source: CoinShares

Even so, there is something to rejoice about- Year-to-date and month-to-date flows remain net positive at $307 million and $187 million respectively.

Also, instead of opting for a single crypto-focused product, investors have