Crypto Investment Products See $22 Million Worth of Weekly Outflows

The crypto market saw a rapid increase in retail demand in the last few weeks, but the institutional interest has been in a downtrend since July 2021. According to the latest digital asset weekly fund flows report published by CoinShares, crypto investment products saw a total of approximately $22 million worth of outflows last week.

CoinShares highlighted that last week was the sixth consecutive week of outflows for the crypto investment products. BTC products saw outflows worth $22 million in the last seven days. Nearly $1.1 million worth of investment left Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term-related products last week.

“Digital assets investment products saw a 6th consecutive week of outflows totaling US$22m, bringing the total 6 week run of outflows to US$115m. This is now the longest run of consecutive outflows since January 2018 although it is proportionally far less, representing only 0.2% of assets under management (AuM) compared to nearly 5% in 2018,” CoinShares mentioned in the report.

Despite the recent trend of outflows, the overall value of global crypto assets under management (AUM) has increased significantly in the last few weeks. The key driver behind the recent surge in value is the $800 billion crypto rally. The total market cap of digital currencies jumped from $1.2 trillion to over $2 trillion within the last three weeks.

Global Crypto AUM

The overall value of international crypto AUM now stands at around $55 billion. Grayscale is the world’s largest digital asset manager with more than $40 billion worth of cryptocurrency assets under management.

“Sentiment looks to be recovering in the overall crypto market judging by recent price rises, this has pushed total investment product AuM to US$55bn, rising 10% week-on-week. Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term continues to be the main release valve for investors, with outflows totaling US$22m last week. Ethereum and Binance both saw minor outflows totaling US$1.1m and US$0.9m, respectively. While multi-asset investment products, a stalwart during this most recent sentiment, saw minor outflows totaling US$0.3m, the first time since June 2020,” CoinShares added.