Investor Confidence in Digital Assets Weakens as Outflows Continue
New data from CoinShares reveals that last week saw a continued outflow from digital asset investment products, totaling $1.7 billion over the past two weeks. This marks a reversal from the earlier trend of inflows year-to-date, leading to a cumulative net outflow of $1 billion globally and signaling a notable decline in investor confidence.
Broad Market Pullback Sees Bitcoin and Ethereum Lead Declines
Market sentiment has turned broadly negative, with Bitcoin experiencing $1.32 billion in outflows and Ethereum seeing $308 million withdrawn. Additionally, previously popular assets like XRP and Solana faced outflows of $43.7 million and $31.7 million, respectively.
Contrarian Moves: Inflows to Bitcoin Short Products
In a sign that some investors are adjusting their strategies, $14.5 million flowed into short Bitcoin products, contributing to an 8.1% increase in year-to-date assets under management (AuM), even as the broader market retreated.
- Bitcoin outflows: $1.32B
- Ethereum outflows: $308M
- XRP outflows: $43.7M
- Solana outflows: $31.7M
- Short Bitcoin inflows: $14.5M