Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Volume 214: Digital Asset Fund Flows Weekly Report

Volume 214: Digital Asset Fund Flows Weekly Report

CointimeCointime2024/12/24 01:33
By:Cointime

From CoinShares Research Blog by James Butterfill

Digital Assets Endure US$1bn Outflows Amid Hawkish FOMC, Yet Overall Inflows Persist

Volume 214: Digital Asset Fund Flows Weekly Report image 0
  • Digital asset investment products saw a continuation of inflows last week totalling US$308m.
  • This masks the largest single day of outflows on the 19th December totalling US$576m, with total outflows in the final 2 days of last week at US$1bn.
  • Ethereum saw a further US$51m inflows at the expense of Solana which saw US$8.7m outflows.
Volume 214: Digital Asset Fund Flows Weekly Report image 1

Digital asset investment products saw a continuation of inflows last week totalling US$308m, although this masks the largest single day of outflows on the 19th December totalling US$576m, with total outflows in the final 2 days of last week at US$1bn.

Recent price corrections resulted in a US$17.7bn reduction in total assets under management (AuM) for Digital Asset ETPs, likely in response to the hawkish dot plot released by the FOMC on Wednesday. While these outflows may sound alarming, they comprise just 0.37% of total AuM, ranking as the 13th largest single-day outflow on record. The largest single-day outflow took place in mid-2022, when the FOMC interest rate hike prompted US$540m outflows (2.3% of AuM.)

Bitcoin, despite the intra-week outflows, still saw net inflows for the week totalling US$375m. with little activity from short-bitcoin investors.

The most dramatic flows were from multi-asset investment products, which saw US$121m of outflows last week. Although many altcoins continued to see inflows, such as XRP (US$8.8m), Horizen (US$4.8m) and Polkadot (US$1.9m), suggesting investors are preferring to take a more selective approach.

Ethereum saw a further US$51m inflows at the expense of Solana which saw US$8.7m outflows.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!