CoinShares, a European cryptocurrency investment firm, released its “Digital Asset Fund Flows Report” on May 15, revealing another consecutive week of outflows from digital asset investment products. The report states that a total of $54 million exited the market, bringing the overall outflow to $200 million, which represents 0.6% of the total assets under management (AuM).
Bitcoin funds saw significant outflows, with $38 million leaving the market. Over the past four weeks, Bitcoin outflows totaled $160 million, accounting for 80% of all outflows. Additionally, when combining the outflows from short positions on Bitcoin, the total value of outflows related to the asset reached $201 million. These figures emphasize the prevailing focus on Bitcoin among recent investor activity.
The report also highlighted outflows of $7 million from multi-asset investments in the past week. However, there was a notable development as inflows were observed across eight different altcoin assets, indicating that investors are becoming more adventurous and selective in their investment choices.
Among the altcoins, Cardano, Tron, and Sandbox attracted minor inflows of less than $1 million each. Binance was the only altcoin to experience outflows.
In a separate survey conducted by Bloomberg’s Markets Live Pulse, it was found that in the event of a theoretical debt default in the United States, Bitcoin could emerge as one of the top three assets alongside gold and United States Treasurys. This suggests that if investors doubt Washington’s ability to avoid long-term default, there may be an increased appetite for Bitcoin as a “digital gold.”
