Digital asset investment products experienced outflows of $16 million last week, ending a series of 11 consecutive weeks of inflows. Trading activities were significantly above the year’s average, with a weekly volume of $3.6 billion.
The United States faced the largest regional outflow with $18 million, while Germany reported minor outflows of $10 million. In contrast, Canada and Switzerland moved against this trend with inflows of $6.9 million and $9.1 million, respectively.
These mixed regional flows suggest that the recent changes are more related to profit-taking tendencies rather than a fundamental shift in sentiment towards the asset class.
Bitcoin took the biggest hit with outflows of $33 million, while short-focused Bitcoin products also experienced minor outflows of $300,000. Conversely, altcoins defied this trend with inflows of $21 million.
The biggest gainers were Solana, Cardano, XRP, and Chainlink, which respectively saw inflows of $10.6 million, $3 million, $2.7 million, and $2 million. Ethereum and Avalanche, on the other hand, faced modest outflows of $4.4 million and $1 million respectively.
Blockchain-focused stocks continued their positive trend with significant inflows of $122 million last week. This represents the peak of a 9-week period totaling $294 million and symbolizes the largest continuous inflow on record.