CoinShares: Total outflows from digital asset investment products reached $1.43 billion last week
latest report from CoinShares shows that last week saw a significant outflow of funds from digital asset investment products for the first time in weeks, totaling $1.43 billion, the highest level since March. Last week, trading volume for Exchange-Traded Products (ETPs) reached $38 billion, about 50% higher than the average for this year. At the beginning of this week, a pessimistic sentiment surrounding the Federal Reserve led to a $2 billion outflow of funds. However, market sentiment shifted after Jerome Powell's speech at the Jackson Hole symposium, which was widely interpreted as more dovish than expected, leading to an inflow of $594 million.
Ethereum saw a significant rebound mid-week, limiting outflows to $440 million, while Bitcoin saw outflows of $1 billion. Data for this month so far shows inflows of $2.5 billion for Ethereum and net outflows of $1 billion for Bitcoin, signaling a significant shift in investor sentiment towards these two assets. Year-to-date, inflows for Ethereum account for 26% of its total assets under management, while Bitcoin only accounts for 11%.
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