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CoinShares: Crypto-Based Investment Products Witness Record-Breaking Outflow

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Mon, 05/23/2022 - 16:10
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Vladislav Sopov
Investors in crypto-based ETFs are leaving Bitcoin-based products while some ETFs registered inflows
CoinShares: Crypto-Based Investment Products Witness Record-Breaking Outflow
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Investors in digital asset funds are bearish on Bitcoin (BTC): as per Coinshares, some of them rebalanced their portfolios in favor of major altcoins.

Bitcoin (BTC) investors are switching to multi-crypto products

As per CoinShares' Digital Asset Fund Flows Weekly Report 81cryptocurrency-based integral investment products (ETFs) are witnessing massive outflows of capital.

In the last seven days, net withdrawals exceeded $141 million. Purpose ETFs witnessed whopping $150 million outflows while the majority of other funds remained almost untouched.

This is the second largest weekly outflow in the turbulent year of 2022. The net equivalent of money locked in crypto-based funds dropped to $38 billion, which is the lowest point since July 2021.

At the same time, some instruments of this segment closed last week with positive results: multi-crypto products added $9.7 million to their balances.

Crypto Fear and Greed index plummeting again

Among single-asset altcoin-centric products, Cardano (ADA) and Polkadot (DOT) based funds are leaders: they managed to attract $1 million each. Funds on SOL, LTC and XRP also increased their AUM.

Meanwhile, despite Bitcoin (BTC) changing hands at $30,500, or almost 2.5% up in 24 hours, its "Fear and Greed" index by Alternative.me returned to 10/100.

This level means "Extreme Fear"; prior to the drop, it was surging for five days in a row.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)