Volume 141: Digital Asset Fund Flows Weekly Report

James Butterfill
CoinShares Research Blog
2 min readJul 24, 2023

Minor outflows in Bitcoin, investors favouring Ethereum

  • Digital asset investment products saw minor outflows totalling US$6.5m, following 4 prior weeks of inflows that totalled US$742m.
  • Bitcoin was the primary focus, as has recently been the case, seeing US$13m of outflows, while short bitcoin investment products saw outflows for the 13th consecutive week totalling US$5.5m.
  • Ethereum topped the leaderboard last week, seeing US$6.6m inflows, suggesting sentiment, which has been poor this year, is slowly beginning to turn around.

Digital asset investment products saw minor outflows totalling US$6.5m, following 4 prior weeks of inflows that totalled US$742m. Trading volumes last week were below the year weekly average at US$1.2bn compared to US$2.4bn the prior week. The minor negative sentiment was primarily focussed on the North American market, seeing 99% of (US$21m) outflows. This was offset by US$12m inflows into Switzerland and US$1.9m into Germany.

Bitcoin was the primary focus, as has recently been the case, seeing US$13m of outflows, while short bitcoin investment products saw outflows for the 13th consecutive week totalling US$5.5m. Short bitcoin total assets under management (AuM) at its peak represented 1.3% of total bitcoin investment products, this has now fallen to just 0.4%, the lowest level since June 2022.

Ethereum topped the leaderboard last week, seeing US$6.6m inflows, suggesting sentiment, which has been poor this year, is slowly beginning to turn around.

XRP, both prior to, and following the conclusion of the recent SEC lawsuit, has seen inflows totalling US$6.8m over the last 11 weeks representing 8% of AuM. This implies investors are increasingly confident in the outlook for XRP.

Solana, Uniswap and Polygon saw inflows totalling US$1.1m, US$0.7m and US$0.7m respectively.

To access all our research click here.

To see the full detail report, click here.

Sign up to discover human stories that deepen your understanding of the world.

Free

Distraction-free reading. No ads.

Organize your knowledge with lists and highlights.

Tell your story. Find your audience.

Membership

Read member-only stories

Support writers you read most

Earn money for your writing

Listen to audio narrations

Read offline with the Medium app

--

--

Published in CoinShares Research Blog

CoinShares opinions and research on the bitcoin, crypto and digital asset world

Written by James Butterfill

Passionate about investing, digital assets, sci-fi and vintage car restoration

No responses yet

What are your thoughts?