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On May 15, the European cryptocurrency investment firm CoinShares released its most recent “Digital Asset Fund Flows Report,” which indicated that digital asset investment products faced another week of ongoing outflows, totaling $54 million leaving the market. This brings “the cumulative outflow to US$200m, representing 0.6% of total assets under management (AuM),” CoinShares stated.
Weekly crypto asset flows. Source: CoinShares
The report highlighted that Bitcoin (BTC) funds experienced outflows of $38 million. In the last four weeks, total BTC outflows reached $160 million, which constitutes 80% of all outflows. Additionally, when factoring in the outflows from short positions on Bitcoin, the total outflow associated with this asset alone amounted to $201 million. These figures clearly indicate that recent investor behavior has been predominantly centered on Bitcoin.
The report further mentioned that multi-asset investments saw outflows of $7 million in the previous week. However, a significant development was noted as inflows were recorded across eight different altcoin assets, suggesting that investors are becoming “more adventurous and selective” in their investment decisions.
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Among the altcoins, funds linked to Cardano (ADA), Tron (TRX), and Sandbox (SAND) attracted small inflows of less than $1 million each. Binance (BNB) was the sole altcoin to experience outflows.
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