Digital Asset Investment Products See Second Week of Outflows, Totaling $206M

Overview of Digital Asset Investment Products

Recent data shows a decline in investor interest in digital asset investment products, with outflows totaling $206 million. This marks the second consecutive week of decreasing investor activity.

Bitcoin Investment Products

Bitcoin investment products witnessed outflows of $192 million, while short-Bitcoin strategies experienced outflows of $0.3 million.

Trading Volumes in ETPs

Trading volumes in Exchange Traded Products (ETPs) saw a slight dip, reaching $18 billion. The trading volumes in ETPs accounted for 28% of total bitcoin volumes, a significant decrease from the previous month’s 55%.

Regional Trends

• US ETFs saw outflows of $244 million, primarily focused on existing ETFs.
• Canada and Switzerland experienced inflows of $30 million and $8 million, respectively.
• Germany saw minor outflows of $8 million.

Ethereum and Other Assets

Ethereum faced outflows of $34 million for the sixth consecutive week. Multi-asset products attracted inflows of $9 million, while Litecoin and Chainlink saw inflows of $3.2 million and $1.7 million, respectively.

Blockchain Equities

Concerns over the impact of halving continued to weigh on investor sentiment, leading to the eleventh consecutive week of outflows for blockchain equities, amounting to $9 million.

Bitcoin Price Movement

Bitcoin is currently trading at $66,266, showing a 2% increase over the past day. Analysts remain bullish on the long-term outlook, despite potential short-term price fluctuations following the halving event.

Expert Insights

Experts predict that Bitcoin may experience selling pressure in the lead-up to the halving event, but historical data suggests potential exponential gains in the year following the event.