A prominent digital asset manager says crypto investment products experienced exits last week for the first time in seven weeks. According to the latest weekly CoinShares report, digital asset investment products hit $110,000,000 last week. Also, while exiting 4 altcoin projects, there were entries for 2 altcoins. For details, continue reading Kriptokoin.com.
What causes outputs?
CoinShares says the $80 million North American outflows are most likely a response to US President Joe Biden’s crypto-related executive order, but the exact reasons are unclear. CoinShares released the following statement:
Digital asset investment products saw $110M outflows last week after a 7-week inflow. The $80 million outflows from North America, with exits starting early last week, suggest that these are a response to the US Presidential Executive Order to delve deeper into digital assets.
CoinShares stresses that the reasons are unclear, given that there has been little price response and $30 million outflows in Europe. It seems that regulatory concerns and geopolitical risks continue to be at the forefront of investors’ concerns about digital assets.
Which altcoin projects are seeing output and entry?
The leading crypto Bitcoin (BTC) by market capitalization experienced the heaviest outflows, with $70 million left from BTC investment products. In line with its market share, the leading altcoin Ethereum (ETH) has seen the second most intense exit, stopping the bleeding at $51 million. CoinShares shares the following information:
Bitcoin saw a total output of $70 million last week after low volumes. Relatively, Ethereum saw the biggest exits last week, totaling $51 million.
Altcoin projects Solana (SOL), Ripple (XRP) and Polkadot (DOT) see $0.3 million, $0.7 million and $0.9 million outflows respectively, while Cardano (ADA) and Litecoin ( There was an inflow of 0.2 million dollars each to LTC).
CoinShares noted a contrast between crypto-asset investment products and multi-asset and Blockchain equity investment products that saw their fair share of capital inflows:
Multi-asset ( multi-coin) and Blockchain equity investment products saw a combined $12 million and $4.1 million inflows last week and remain popular with investors.
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