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Despite a massive market-wide selloff last week, digital asset investment products saw minor outflows of $9 million last week. According to CoinShares’ Digital Asset Fund Flows, Bitcoin (BTC) saw a third consecutive week of outflows totaling $15 million, while Ethereum (ETH) reported inflows of $3 million last week.
This suggests investors are more positive about Ethereum over Bitcoin amid the anticipated Merge on September 15.
Crypto Investment Products Report Minor Outflow Last Week
Digital asset management firm CoinShares has released the Digital Asset Fund Flows report for the week ending August 19. The report reveals digital asset investment products saw minor outflows of $9 million last week. Moreover, the digital asset investment products recorded volumes at $1 billion, still down 55% on year average.
The report suggests low participation from investors currently due to the crypto market pressure. Most outflows were mostly reported in the U.S., Germany, and Sweden. Whereas, investors in Brazil, Switzerland, and Australia pour funds into crypto investment products.
Bitcoin (BTC) investment products saw outflows of $15 million, the third consecutive week of outflows. The Bitcoin (BTC) is witnessing mild negative sentiment due to FUD surrounding the Fed rate hikes. However, short bitcoin saw minor inflows totaling $0.2 million last week. The recent bear market rally failed to hold the BTC price above $25k, and the price tumbled to below the 21,000 level.
Ethereum (ETH) investment products saw inflows totaling $3 million. This marks the 9-week run of inflows totaling $162 million. The continuous inflows are the result of improving clarity on the Merge and its date. The Ethereum core developers push for the Merge on September 15.
Other altcoins investment products including Cardano (ADA), XRP, and Binance Coin (BNB) witnessed slight inflows. However, Solana (SOL) saw outflows for a second week totaling $1.4 million. Institutional investors await an upcoming crypto market rally.
Blockchain products also reported negative sentiment last week, with $1.6 million in outflows.
Digital Asset Funds Fared Better During the Sell-Off
Institutional investment products saw comparatively less impact amid the market-wide selloff last week. The Bitcoin (BTC) and Ethereum (ETH) prices dived over 10% last week, losing previous gains.
Bitcoin (BTC) and Ethereum (ETH) prices are currently trading at $21,307 and $1,571, down nearly 1% and 3%, respectively. Institutional investors’ outlook on crypto is comparatively stronger than whales and retail investors.
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