Crypto investment products have a small flux every week. The volume fell to the second lowest level of the year. signaling weak demand among institutional investors.
CoinShares reportMonday that outflows from digital asset investment products totaled $8.7 million in the week ending Sunday. Bitcoin (BTC) investment products posted a third consecutive week of outflows totaling $15.3 million, and Solana holding funds (SOL) saw a small outflow totaling $1.4 million.
Meanwhile, Ether (ETH) and multi-asset investment products saw small weekly inflows of $2.9 million and $2.7 million, respectively.
Overall, Crypto investment products have weekly volumes of $1 billion, which is 55% below the annual average.
CoinShares said most of the negative sentiment was centered on Bitcoin, which fell last week. After being severely rejected at $25,000, Bitcoin currently stands at around $21,200, well below the perceived price or average price at which a circulating supply of BTC was last bought.
Crypto’s Strong Relationship with Traditional Stocks This puts the asset class to face further volatility ahead of the Federal Reserve’s annual Jackson Hole Summit in Wyoming later this week.
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