The digital currency ecosystem recorded approximately $20.8 million in inflows over the past week.
According According to CoinShares data, different assets profiled saw a mixed flow outlook as market sentiment remained erratic overall, with a general outflow seen in the market.
According to the report, while Bitcoin (BTC) and Ethereum (ETH) recorded massive outflows of $24.7 million and $13.6 million, โShort Bitcoinโ inflows amounted to $12.7 million.
The past few weeks have been marked by sentiment for Bitcoin spot exchange-traded funds (ETFs). According to CoinShares, this asset class has seen a total net inflow of $1.25 billion since the 11 products began trading.
Cryptocurrency and ETF Flow Data
If we dig into the numbers, altcoins in general recorded disappointing capital flows and XRP recorded only $500,000. Cardano (ADA) performed worse than XRP but better than BTC and ETH as it recorded no inflows.
The multi-asset category, as outlined by CoinShares, saw an inflow of $9.4 million, while companies like Solana (SOL) and Litecoin (LTC) plunged with outflows of $8.5 million and $1.5 million respectively.
In addition to Solana, all assets profiled by CoinShares boast impressive growth so far this month (MTD) and year-to-date (YTD) overall.
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The assets under management (AUM) of Bitcoin products exceeded $36.719 billion, the AUM of Ethereum products amounts to 10.607 billion, while the AUM of Solana and Cardano are $707 million and $60 million, respectively.
The report highlighted how the crypto ETF market is performing and noted that existing issuers are taking a big hit.
Grayscale has been watching out of stock as customers move their funds off the platform to alternative companies on the grounds that fees are cheaper.
According to the CoinShares report, higher cost emitters They suffered outflows of $2.9 billion, while new issuers recorded a total of $4.13 billion.
Crypto Market Price Outlook
The report underlines the overall bearish sentiment in the market at the moment. The price of Bitcoin (BTC) is down 2.86% in the last 24 hours to $40,603, and trading volume has skyrocketed 110% to $20,183,645,154.
Ethereum and Solana are down 4.38% and 6.91% in 24 hours to $2,368.17 and $86 respectively.
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Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct extensive research before making any investment decisions. Crypto Basic is not responsible for any financial loss.
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