Bitcoin Leads Investor Activity with $159M in Outflows; But Multi-Asset Products Shine
The post Bitcoin Leads Investor Activity with $159M in Outflows; But Multi-Asset Products Shine appeared on BitcoinEthereumNews.com.
Digital asset investment products recorded minor outflows of $147 million over the past week, likely driven by stronger-than-anticipated economic data that reduced expectations for substantial rate cuts. ETP investment product trading volumes rose slightly by 15% to $10 billion, while overall crypto market volumes remained lower. Bitcoin saw significant investor focus, according to the latest edition of Digital Asset Fund Flows Weekly Report. Over the past week, Bitcoin saw outflows reaching $159 million, while short-Bitcoin products recorded inflows of $2.8 million. Despite reversing the five-week decline last week, Ethereum yet again experienced a downturn, with $29 million in outflows as interest in the asset stayed weak. On the positive side, multi-asset investment products (multi-coins) brought in $29 million, marking 16 consecutive weeks of inflows. This streak has accumulated $471 million YTD, accounting for 10% of total assets under management. Since June, multi-asset products have attracted investors looking for more diversified portfolios. Solana also recorded $5.3 million in weekly inflows. Next up was the Litecoin suit, with $0.9 million in inflows, followed by XRP and Cardano, with $0.3 million in inflows each during the same period. Canada and Switzerland both showed a bullish trend, with inflows of $43 million and $35 million, respectively. Minor inflows were also seen in Australia and Brazil, with $2 million and $0.8 million over the past week. On the other hand, the US, Germany, and Hong Kong saw notable outflows of $209 million, $8.3 million, and $7.3 million, while Sweden reported $2.1 million in outflows for the week. SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details). LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position…
Filed under: News - @ October 7, 2024 9:22 pm