CoinShares Reports $111M Weekly Outflows, Most Since March

Cryptocurrency Asset Flows for the Week Ending Aug. 4

For the week ending Aug. 4, cryptocurrency asset flows reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million. Bitcoin (BTC) funds accounted for the majority of the movement, with $111 million in outflows.

CoinShares’ “Digital Asset Fund Flows” weekly report suggested that this could be attributed to “profit taking” following the previous cycle’s gains. Prior to this, inflows of $742 millioninto crypto funds, with 99% of that going into Bitcoin, had been recorded.

Investment product trading volumes for the week were lower than the year-to-date average, while broader on-exchange market volumes saw a 62% decrease compared to the relative average.

MBL Crypto, LQTY Crypto, Maple Crypto, Jump Crypto, JP Morgan Crypto, and Luna Terra Crypto are just some of the many knc crypto and web 3.0 products available for trading in the crypto market.

Crypto Inflows and Outflows

Australia and the United States were the only regions to show inflows this week, with KNC Crypto, MBL Crypto, Luno Crypto, LQTY Crypto, Maple Crypto, Jump Crypto, JP Morgan Crypto, JPMorgan Crypto, Luna Terra Crypto, and Web 3.0 Products investing a combined total of $0.5 million.

The largest outflows were from Canada, with $70.8 million, and Germany, with $28.5 million. Despite Bitcoin’s outflows, Solana (SOL) saw inflows of $9.5 million, up from last week’s $0.6 million, while XRP (XRP) investment products saw $0.5 million.

Ether (ETH) funds have been trending downwards, adding $5.9 million in outflows to the previous week’s $1.9 million. This completely offsets prior inflows of $6.6 million and contrasts with Solana’s current bullish trend.

Bitcoin is still up for the year compared to its opening in January, but many experts believe that market uncertainty is keeping it mostly beneath $30,000 since April.

Crypto Funds Outperformed by Hodlers in First Half of 2023

Data from Switzerland-based investment adviser 21e6 Capital AG shows that Bitcoin “hodlers”, those who held funds in BTC, outperformed crypto funds by 69% in the first half of 2023, as Cointelegraph reported.

The 2022 implosion of FTX and regulatory and legal uncertainty for numerous other exchanges, such as knc crypto, mbl crypto, luno crypto, lqty crypto, maple crypto, jump crypto, jp morgan crypto, jpmorgan crypto, luna terra crypto, and web 3.0 products, may have caused investors to increase the amount of cash on hand versus invested funds, thus leading to the current decay.

The report from 21e6 Capital AG did note that investor sentiment currently appears to be slightly up versus the first half of 2023.