The outflow of funds in a single week hit a record. Are institutions not optimistic about Ethereum?
This article comes fromcointelegraph, original author: Martin Young
Odaily Translator |
This article comes from
, original author: Martin YoungOdaily Translator |Over the past week, outflows from ethereum investment products have set new records, while bitcoin outflows have stabilized by comparison.
According to CoinShares' latest "
Digital Asset Fund Flow Weekly Report
shows that Ethereum investment products have now seen outflows for three consecutive weeks, with outflows reaching $64.3 million since the week ended June 6. This past week in particular has seen a record $50 million in outflows from Ethereum investment products, suggesting a bearish sentiment among institutional investors.
However, despite the recent reduction in the amount of funds in Ethereum investment products, if calculated from the beginning of 2021, $943 million will still flow into Ethereum investment products.
If the scope of statistics is expanded to all digital currency investment products, it will be found that there has been a trend of capital outflows for the fourth consecutive week. In the past 7 days, 44 million US dollars have been withdrawn from digital currency investment products. Institutions have “raised” $313 million from digital currency investment products since mid-May, accounting for 0.8 percent of total crypto assets under management, according to CoinShares’ Digital Asset Flows Weekly report. However, compared with the negative market sentiment in early 2018, the current outflow of market funds is still relatively small, when the outflow of encrypted assets accounted for 4.9% of the total scale of encrypted assets under management.
In the past week, most of the negative sentiment in the market has been concentrated on Ethereum. The second largest digital currency has experienced the largest outflow of funds. In contrast, the outflow trend of Bitcoin has begun to slow down. Bitcoin investment products have seen outflows for seven consecutive weeks since early May, but in the latest week, outflows have slumped to $1.3 million, compared with $89 million just a week earlier.
In terms of Bitcoin, some funds have begun to increase investment in Bitcoin investment products (such as Grayscale). Inconsistent.
CoinShares pointed out in its report that the capital flows of different digital currencies are different. Some digital currencies have a large outflow of funds, and some digital currency investment products have capital inflows, which shows that investors have mixed sentiments on the encryption market. Qi, but also tend to carry out multi-asset investment.
"Multiple digital asset investment products continue to buck the trend, with an inflow of $6 million last week, indicating that investors still favor digital assets, but are keen to diversify their investments."
During the peak of the bull market earlier this year, institutional exposure to digital currency investment products reached record levels, however, not all investors have consistently profited during market downturns.
