CoinShares: Digital Asset Fund Flows Weekly Record $432M Outflows

Digital asset investment products saw record-high outflows totaling $423 million last week, according to a report by digital asset manager CoinShares. The amount sharply increased from the prior largest outflow of $198 million by January this year. Digital Asset Fund Flows Weekly Report In the latest Digital Asset Fund Flows Weekly report, CoinShares found that digital asset investment products recorded over $423 million in outflows last week. The accounted outflows erased almost all inflows year-to-date and left total bitcoin assets under management (AUM) at $24.5 billion, the lowest point since the beginning of 2021. Per the report, the outflows occurred on June 17 but were reflected in the last week’s figures due to trade reporting lags, and were likely responsible for bitcoin’s decline to the $17,760 level, an 18-month low, at the time. “The outflows occurred on 17th June but were reflected in last week’s figures due to trade reporting lags, and likely responsible for Bitcoin’s decline to $17,760 that weekend. Stripping out the US$493m outflows reveals that other providers saw aggregate inflows totalling US$70m, highlighting highly polarised sentiment amongst digital asset investors,” the report wrote. Demographics Accounting Inflows US-based investors accounted for more than half of the inflows, with $41 million last week. Meanwhile, Germany and Switzerland accounted for $11 million and $10.4 million, respectively. In con...