Weekly flow of crypto assets has this profit making statistics

Inflows into digital asset investment products totaled $3 million last week, bringing the sixth consecutive week of inflows to a total of $529 million, CoinShares found in a recently published report.

Last week’s inflow represented a 96% decrease from the $81 million recorded in inflow the previous week.

Source: CoinShares

Inflows to investment products for digital assets were total $3 million last week, bringing total inflows since the beginning of the month to $3.1 million.

CoinShares found that last week’s inflow represented 1.7% of total assets under management (AuM). Furthermore, it was said that despite the market downturn in the last quarter, 32 new investments have been launched, primarily in altcoins.

Source: CoinShares

Bitcoin and Bitcoin short in the past week

According to the report, Bitcoin logged outflows last week. These payments totaled $8.5 million. The outflows recorded brought year-to-date (YTD) inflows for the sovereign to $311.9 million, down from the YTD index of $326.1 million recorded last week.

Still, a king, Bitcoin’s YTD inflow represents 63% of the YTD total inflow of $492 million recorded by all assets assessed by CoinShares in the report.

Furthermore, Coinhares found that short-Bitcoin investment products also recorded outflows totaling $7.5 million. It was the second consecutive week of outflows for short-Bitcoin. Last week saw outflows of $2.6 million.

These outflows, according to CoinShares, suggest that “investors believe bitcoin prices have fallen.”

What about Ethereum?

For Ethereum, inflows last week were $16 million, bringing it to nearly seven consecutive weeks of inflows of $159 million.

“We believe this turnaround in investor sentiment is due to greater clarity about the timing of The Merge where Ethereum shifts from proof-of-work to proof-of-stake,” CoinShares stated.

However, the report stated that on a YTD basis, the leading all-time high had seen outflows of $300 million.

Source: CoinShares

Regionally, most of the inflows were from North America and Europe, with inflows from the US and Germany at $16.8 million and $7.8 million respectively.

All other regions considered in the report recorded inflows except Canada, which had an outflow of $29.9 million.

Source: CoinShares

Commenting on the reason for the low weekly influx, CoinShares stated thus:

“Despite the improvement in sentiment, trading volumes remain very low at $1.1 billion for the week against the weekly year-to-date average of $2.4 billion. We believe the low participation is seasonal as a similar trend has been seen in previous years.”