Analysts at CoinShares say that amid negative market sentiment, total assets under management are at their lowest level since February 2021.
According to a new weekly report from CoinShares, capital outflows from crypto funds totaled $39 million. Total assets under management (AuM) is now at its lowest level since February 2021 at $36 billion, 59% below its November 2021 peak. However, despite the negative sentiment, investment flows in cryptocurrencies have remained positive since the beginning of the year – $403 million.
The outflow in recent weeks has been exclusively from Canadian exchanges ($141 million), while the total inflow to the US exchanges amounted to $79 million, and to the exchanges of Europe and Brazil – $12 million. $28 million, while the monthly figure reaches $46 million. It is likely that many investors buy bitcoin at low prices for the long term in the hope of an asset growth after the crypto winter.
At the same time, at the beginning of last week, the number of orders to sell bitcoin reached an all-time high of $64 million. At the same time, there was a record capital outflow of a total of $5.8 million, which suggests that negative sentiment among investors is reaching a peak phase. The most investment-resistant multi-asset investment products received $9 million in capital inflows last week.
Ethereum continues to lose capital – last week the outflow of money from the second largest cryptocurrency was $70 million, and since the beginning of the year – $459 million , and since the beginning of the year – $ 109 million.
Recall that last week, bitcoin continued to fall against the backdrop of a decline in the traditional stock market and accelerating inflation. BTC broke the December 2020 low, pulling ETH and other cryptocurrencies with it.
