According to reports, digital asset crypto investment products lost $73 million in outflows last week. This extends the fifth consecutive week of outflows in the space, totaling $532 million. Furthermore, the latest Coinshares report also shows the sharpest outflows in the last three years (2018). For this, Coinshares took into account a percentage of the total assets under management (AUM). In addition, according to the report, the first daily inflows of the year -taken last week – also had a bearing on recent bearish sentiment.
Unsurprisingly, Bitcoin (BTC) was the largest mover last week, with a total of $55 million in outflows. This translates into outflows in four of the last five weeks for the prominent digital currency. Furthermore, the outflow sum total in that entire period now stands at $317 million. According to the aforementioned report, the value of AUM in BTC was at a three-month low of $35 billion last week.
Ethereum (ETH) had an outflow of $30 million in its investment products last week. This development now marks the sixth straight week of outflows valued at $230 million for the second-largest crypto by market cap. In addition, the aforementioned sum was also approximately 1.5% of AUM for ETH.
In spite of this seemingly sustained negative trend, outflows were still markedly less than last week. Then, the total value of outflows from crypto investment products stood at an enormous $207 million – which is a record.
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