CoinShares Weekly Report: Investors cash in, Bitcoin fund outflows nearly $20 million in one week

CoinShares released its crypto fund flow report for last week on Monday, which showed that despite the recovery in Bitcoin prices last week, digital asset investment products once again saw outflows totaling $19.5 million, the fourth consecutive week of outflows, indicating that investors are taking advantage of the recent price increases to take profits.

Crypto fund outflows have totaled $295 million, or 1% of assets under management (AuM), since the mid-May price drop triggered outflows. During the 2018 price crash, outflows were much larger, totaling 5% of AuM, and occurred over a shorter period of nine weeks.

Bitcoin investment products: saw outflows for the fourth consecutive week, with outflows of $19.7 million, but year-to-date inflows remained high at $4.1 billion.

Ethereum investment products: saw outflows for the second week in a row, with $9.5 million in outflows, although investors have been more tolerant, with outflows occurring in only six of the past 12 weeks, compared to 10 for Bitcoin.

Multi-asset investment products: continued to buck the trend, with total inflows of US$7.5 million.

The trading volume of digital asset investment products increased by 173% compared with the previous week.