Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report.
- Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for the week, CoinShares reported.
- But other assets saw inflows. Multi-asset investment products took the lead, with US$1.2 million of inflows, followed by Ethereum (US$0.8 million), Cardano (US$0.6 million) and Binance (US$0.4 million).
- “In recent weeks there has been a regional divide in Bitcoin inflows in North American providers seeing consistent inflows while their European counterparts have continued to see outflows,” wrote James Butterfill, CoinShares’ investment strategist.