Digital assets funds see sixth week of outflows
21/03/2023 - 11:09am
Digital asset investment products saw outflows for the sixth consecutive week totalling $95 million last week, with the five-week total reaching $406 million, or 1.2% of total assets under management, according the the latest Digital Assets Funds Flows Weekly report from CoinShares.
Bitcoin remained the focus of negative sentiment, seeing outflows in investment products totalling $113 million last week.
The outflows were in stark contrast to the broader market and, according to CoinShares, suggest it was, in part, due to the need for liquidity rather than actual negative sentiment.