Cloud Hosting

James Butterfill from CoinShares notes that outflows over the last 9 weeks aggregate to almost $0.5 billion

The CoinShares team also mentioned that digital asset investment products saw outflows totaling $54 million last week, with outflows for 8 out of the last 9 weeks that aggregate to $455 million.

Bitcoin has reportedly comprised 85% of the outflows, seeing $45 million last week. Short-bitcoin inflows the prior week proved to be short-lived, with outflows of $3.8 million last week.

Ethereum, the largest smart contract platform, reportedly saw outflows totaling $4.8 million last week, despite what we believe are attractive investment fundamentals and high demand for its staking yield.

Overall, digital asset investment products saw considerable outflows, presumably due to uncertainty in the crypto markets, thus marking the 5th consecutive week. There have been outflows for 8 out of the last 9 weeks that aggregate to $455 million, with year-to-date net inflows falling to just $51 million.

The primary focus of the negative sentiment from a regional perspective has been the US, which saw 77% of the outflows, while Germany, Canada and Sweden also continue to suffer. Volumes picked up a little to US$1bn for the week, up 42% compared to the prior week.

Bitcoin (BTC), the flagship cryptocurrency, comprised the majority of the outflows, seeing $45 million last week. And short-bitcoin inflows the prior week proved to be short-lived, with outflows of $3.8 million last week. However, it remains the most loved investment product with month-to-date inflows at US$12m.

Ethereum (ETH), the second-largest crypto-asset by market cap and overall adoption, saw substantial outflows last week as well, despite what CoinShares believes are attractive investment fundamentals and high demand for its staking yield. Other altcoins, such as BNB Coin and Polygon saw minor outflows of $0.3 million each.

Some altcoins continue to buck the trend, with Solana, Cardano and XRP all seeing inflows of US$0.7m, US$0.43m and US$0.13m respectively.

Blockchain equities also saw its 6th consecutive week of outflows, totaling US$9.6m last week.

More here:
Digital Asset Market Report: Bitcoin (BTC), Ethereum (ETH), Altcoin Outflows Reach Nearly $500M In Past 9 - Crowdfund Insider