- CoinShares released their weekly report on the flow of funds in cryptocurrency investment products.
- During the previous week, there was a net outflow of $15.8 million.
- Experts believe that this outflow is primarily due to investors taking profits rather than a shift in sentiment towards cryptocurrencies.
CoinShares has recently published their weekly report analyzing the financial flows into cryptocurrency-based investment products. The report covers the period from December 9 to December 16 and reveals a total outflow of $15.8 million. This comes after eleven consecutive weeks of positive inflows.
The report suggests that the outflows are more likely attributed to investors capitalizing on their gains, rather than a significant change in sentiment towards cryptocurrencies as an asset class. Additionally, trading activity during the week remained higher than the annual average, with a total volume of $3.6 billion.
The report also highlights the specific assets that experienced outflows. Bitcoin-based instruments saw a net outflow of $32.8 million, while Ethereum-based instruments recorded an outflow of $4.3 million. On the other hand, Solana blockchain-related products received a significant inflow of $10.6 million.
In terms of regional trends, the majority of outflows were seen in the United States, totaling $18.3 million, followed by Germany with $9.7 million. Inflows, however, were observed in countries like Canada, Switzerland, France, Australia, and Brazil.
It is worth noting that during the mentioned period, a total of 33 projects successfully attracted investments worth $323.49 million.