29 June, 2021
- Ethereum bears the brunt of the negative sentiment with record outflows of US$50mn in the fourth week of June, according to a weekly report by Coinshares, Europe’s largest digital asset company.
- Digital asset investment products saw a fourth consecutive week of outflows totalling US$44m.
- This outflow, on a relative basis, remains small in comparison to the negative sentiment in early 2018 where outflows as a percentage of AuM totalled 4.9%.
- This week most of the negative sentiment was focussed on Ethereum where net outflows totalled US$50m, the largest on record.
Meanwhile, multi-digital asset investment products continued to buck the negative trend with inflows of US$6m last week.
Digital asset investment products saw a fourth consecutive week of outflows totalling US$44m.
Since mid-May, as negative sentiment has remained prevalent, net weekly outflows now total US$313m representing 0.8% of total assets under management (AuM). This outflow, on a relative basis, remains small in comparison to the negative sentiment in early 2018 where outflows as a percentage of AuM totalled 4.9%.
This week most of the negative sentiment was focussed on Ethereum where net outflows totalled US$50m, the largest on record. These outflows represent 5% of the US$943 inflows year-to-date.
Bitcoin saw minor outflows totalling US$1.3m, its seventh consecutive week of outflows. Flows were varied across providers, with some seeing substantive outflows while others saw inflows, suggesting mixed sentiment for Bitcoin amongst investors.
Multi-digital asset investment products continued to buck the negative trend with inflows of US$6m last week, suggesting that investors continue to favour digital assets but are keen to diversify.
Image: PxHere
