Digital Asset Investment Products See Minor Outflows Amid Economic Data

According to PANews, CoinShares' latest weekly report reveals that digital asset investment products experienced minor outflows totaling $147 million last week. The higher-than-expected economic data has reduced the likelihood of significant interest rate cuts, potentially dampening investor sentiment. While ETP investment product trading volumes rose by 15% this week, the broader cryptocurrency market saw a decline in trading volumes. Regionally, Canada and Switzerland showed positive trends, attracting inflows of $43 million and $35 million, respectively. In contrast, the United States, Germany, and Hong Kong witnessed outflows of $209 million, $8.3 million, and $7.3 million, respectively. Investors primarily focused on Bitcoin, which saw outflows of $159 million, while Bitcoin short products attracted $2.8 million in inflows. Ethereum was also affected by this negative trend, with outflows of $29 million, indicating continued low investor interest in the asset. Multi-asset investment products, which include various cryptocurrencies, attracted $29 million in inflows, marking the 16th consecutive week of inflows. The total inflows over these weeks have reached $431 million, accounting for 10% of assets under management. Since June, multi-asset products have been favored by investors who prefer diversified asset portfolios over single assets.