Digital Asset Investment Products Face $147M Outflows Amid Strong Economic Data
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Digital asset investment products recorded outflows of $147 million last week amid increasing investor caution in response to robust economic data.
Stronger-than-expected economic indicators have diminished hopes for significant interest rate cuts, dampening market sentiment, according to a Monday report from CoinShares.
Despite the cautious atmosphere, trading volumes for exchange-traded products (ETPs) edged up by 15% to $10 billion, even as broader crypto markets experienced lower activity.
Geographically, investment trends varied. Canada and Switzerland led the inflow charge, attracting $43 million and $35 million, respectively.
In contrast, the United States, Germany, and Hong Kong faced significant outflows, with the U.S. seeing $209 million, Germany $8.3 million, and Hong Kong $7.3 million.
Digital asset investment products saw $147M in net outflows last week, ending a 3-week streak of positive inflows. CoinShares attributes this to higher-than-expected economic data shaking the markets. #Crypto #DigitalAssets #CoinShares #Investment pic.twitter.com/R23ShnmbeD
Bitcoin was at the center of investor movements, experiencing outflows of $159 million.
However, products that short Bitcoin saw modest inflows of $2.8 million, indicating some hedging activity.
Ethereum followed the broader negative trend, registering $29 million in outflows as interest in the asset waned.
On the positive side, multi-asset investment products continued their winning streak, drawing $29 million in inflows, marking the 16th consecutive week of positive
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