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Digital asset market shrinks as fund outflows reach $200M: CoinShares

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Negative sentiment surrounding Bitcoin and crypto led to another week of large outflows from digital asset investment products, according to CoinShares.

On May 15, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” which

that digital asset investment products experienced another week of consecutive outflows, with a total of $54 million exiting the market. This brings “the total outflow to US$200m, representing 0.6% of total assets under management ,” CoinShares reported.According to the report, Bitcoin funds witnessed outflows of $38 million. Over the past four weeks, total BTC outflows amounted to $160 million, accounting for 80% of all outflows.

The report also noted that multi-asset investments experienced outflows of $7 million in the past week. However, there was a noteworthy development as inflows were observed across eight different altcoin assets, implying that investors are becoming “more adventurous and selective” in their investment choices.

 

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