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Crypto investment products witnessed nearly $115 million worth of outflows in the last six weeks.

Bitcoin tried to surpass $43,000 but failed. Most altcoins are slightly in the green today – AVAX and MATIC with the most sub
Bitcoin tried to surpass $43,000 but failed. Most altcoins are slightly in the green today – AVAX and MATIC with the most substantial gains.

The crypto market saw a rapid increase in retail demand during the last few weeks, but the institutional interest has been in a downtrend since July 2021. According to the latest digital asset weekly fund flows report published by CoinShares, crypto investment products saw a total of approximately $22 million worth of outflows last week.

BTC products saw outflows worth $22 million in the last seven days.

According to the Coinshares data, last week was the sixth consecutive week of outflows for the crypto investment products. BTC products saw outflows worth $22 million in the last seven days. Nearly $1.1 million worth of investment left Ethereum-related products last week. “Digital assets investment products saw a 6th consecutive week of outflows totaling $22 million, bringing the total six week run of outflows to $115 million. This is now the longest run of consecutive outflows since January 2018, although it is proportionally far less, representing only 0.2% of assets under management (AuM) compared to nearly 5% in 2018,” CoinShares mentioned in the report.

The overall value of global crypto assets under management has increased.

Despite the recent trend of outflows, the overall value of global crypto assets under management (AUM) has increased significantly in the last few months. The key driver behind the recent surge in value is the $800 billion crypto rally. The total market cap of cryptocurrencies jumped from $1.2 trillion to over $2 trillion within the last three weeks. The overall value of international crypto AUM now stands at around $55 billion. As reported earlier, Grayscale, the world’s largest digital asset manager, has more than $40 billion worth of cryptocurrency assets under management.

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