It was the fifth consecutive week of release for digital asset investment products, with $63 million. Debuts have remained relatively small, with a total of $99 million in the last 5 weeks. While Bitcoin saw an exit, Short Bitcoin investment products saw an entry. Also, institutional money from Bitcoin and Ethereum flowed into Cardano, Solana and Ripple. Cardano’s listings have garnered attention, quadrupling in the past week.
Crypto-asset investment products move exits into Week 5
In digital asset investment products, there was a total outflow of 63 million dollars. This marks the fifth consecutive weekly debut. According to experts, this was due to the negative sentiment stemming from the introduction of Short Bitcoin investment products last week.
Debuts have remained relatively small, with a total of $99 million in the last 5 weeks. Also, volumes remain at only 46% of this year’s $1 billion average. Despite the increase in prices on Friday, it was the biggest release day.
Regionally, exits focused on Canada and the US, which saw $60 million and $10 million respectively. Europe, on the other hand, showed the opposite situation with an inflow of US$ 7 million.
Cardano, Solana, and Ripple withdraw funds, while Bitcoin and Etherum see growth
Ethereum was the main focus of outflows totaling $62 million last week. As you follow on Kriptokoin.com, the countdown has begun for Ethereum Merge. Exits have occurred despite the increased certainty of Merge (expected on or around September 15). This raises some doubts. Perhaps it highlights a concern among investors that the event may not go as planned. Experts, on the other hand, do not expect any problems.
Bitcoin saw its 5th consecutive week debut of $13 million. Short Bitcoin investment products, on the other hand, received an inflow of 10.6 million dollars. Experts note that this indicates the ongoing negative feeling.
Among altcoin projects, Cardano attracted attention with an inflow of $ 0.4 million. The net inflow of funds into Cardano for the week ending Sept. 5 was $100,000. In the past seven days, the figure has soared to $400,000. Thus, Cardano’s entries quadrupled last week. Cardano has become one of the few altcoin projects with a positive fund flow balance. Besides that, Cardano’s entries have increased significantly towards the Vasil Hard Fork.
Other assets keeping pace with Cardano are Ripple (XRP) and Solana (SOL). But both had lower entries in streams. The overall situation in the crypto market remains rather ‘indifferent’ as the analytical agency had previously characterized.
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