Bitcoin ends week with $375m inflows as multi-assets face $121m losses

Last week saw $308 million in inflows into digital asset investment products, although this was dwarfed by a significant outflow of $576 million on December 19. The last two days of the week saw total outflows of $1 billion.

The recent price declines led to a $17.7 billion drop in total assets under management (AuM) for digital asset ETPs, which is likely influenced by the hawkish attitude of the Federal Reserve’s dot chart released on Wednesday.

Bitcoin posts strong entries

While these outflows are significant, it’s also important to note that the numbers represent just 0.37% of total AuM and rank as the 13th largest single-day outflow in history, according to the latest edition of CoinShares Digital Fund Flows Weekly Report.

By comparison, the largest single-day outflow occurred in mid-2022 when an outflow of $540 million (2.3% of AuM) followed the Fed’s rate hike .

While Bitcoin saw some outflows during the week, it ended with net inflows of $375 million, indicating strong market sentiment. On the other hand, short bitcoin products only recorded inflows of $0.4 million, reflecting a lack of significant interest from short sellers.

The “most dramatic” outflows came from multi-asset investment products, which saw a sharp drop of $121 million last week.

On the altcoin side, XRP led the inflows with $8.8 million, followed by Horizen with $4.8 million and Polkadot with $1.9 million over the past week, showing a trend of investors who favor more selective opportunities. Chainlink, Cardano, and Litecoin also received modest inflows of $1.7 million, $0.7 million, and $0.6 million, respectively.

Meanwhile, Ethereum continued its positive streak and attracted $51 million, while Solana saw outflows of $8.7 million during the same period.

Switzerland faces the largest outflows of digital assets

The US continued to lead digital asset inflows, with $567 million over the past week. Brazil and Australia followed with $16.6 million and $10.2 million in inflows, respectively, while other regions saw outflows.

At the top of the chart with the most departures during the same period, Switzerland recorded $95.1 million, followed by Germany and Canada with $74.7 million and $60.1 million. Outings were also recorded in Sweden and Hong Kong, with $42.1 million and $12.1 million, respectively.

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