Mixed Sentiment as Digital Asset Fund Flows See Minor Inflows

Overview of Digital Asset Fund Flows

Digital asset investment products experienced a modest net inflow of $6 million last week, reflecting a mixed sentiment among investors, according to CoinShares. This comes despite a significant mid-week outflow of $146 million, triggered by stronger-than-expected U.S. retail sales data.

Regional Inflows and Outflows

The U.S. market saw a continuation of outflows, totaling $71 million over the week. In contrast, European countries and Canada reported positive sentiment. Switzerland, Germany, and Canada together accounted for $75.4 million in inflows, with Switzerland alone contributing $43.7 million.

Bitcoin and Ethereum Movement

Bitcoin (BTC) experienced mixed intra-week flows, ultimately ending the week with minor outflows of $6 million. Additionally, short Bitcoin investment products saw outflows for the seventh consecutive week, amounting to $1.2 million, which represents 40% of the total assets under management in this category.

Ethereum (ETH), on the other hand, continued its downward trend, suffering outflows of $26.7 million last week. Over the past eight weeks, Ethereum has seen total outflows of $772 million. Despite these losses, it remains the second-largest in terms of year-to-date flows, with $215 million in net inflows.

XRP's Positive Performance

Contrasting the trend, XRP showed strong performance with inflows of $37.7 million last week. This positions XRP as the third most successful asset in terms of year-to-date inflows, totaling $214 million.

For further insights into digital asset fund flows and the evolving market sentiment, refer to the detailed report by CoinShares.