Bitcoin has made gains in the past weeks but ETP investors are not impressed 

Last week saw a $32 million outflow of digital assets as investor sentiment improved in the middle of the week. It could have been worse because ETP investors seem more critical of regulatory pressure on the digital asset market.

According to on-chain data, assets under management have reached their highest level since August 2022, while outflows have dropped to $32 million.

Last week, digital investment products saw the largest outflow since December. Most of those funds were from Bitcoin, which bore the brunt of the investor sentiment. Of the total outflow, Bitcoin saw a $25 million outflow at a time when short-term bitcoin products witnessed an inflow of $3.7 million.

Similarly, blockchain-related equities saw $9.6 million in funds flow into them last week. According to the data, it was the sixth consecutive week of inflows.

It shows that CoinShares Physical saw an outflow of $11.6 million, ProShares of $0.8 million, 3iQ of $4.4 million, and CI Investments of $3.1 million, while others accounted for $15.1 million in outflows.

As already stated, Bitcoin saw the biggest chunk of the $24.8 million outflow. The outflow from Ethereum was $7.2 million. Outflow from Polygon was $0.8 million. Multi-asset saw $2.3 million in outflow, and others contributed $1 million.

The country chart shows that Germany saw the highest outflow of $23.1 million. Canada had an outflow of $10.6 million. Last week, Brazil had a $2.7 million outflow, while others had a $0.3 million outflow.

The data shows that sentiment improved on Friday, resulting in an inflow of $30 million, canceling out half of the $62 million outflow that the market had witnessed by Wednesday. With Bitcoin gaining 10%, it is obvious that the general market outlook was not expressed by ETP investors.

Assets under management currently stand at $30 billion, their highest value since August 2022.

Author: Kamma

Kamma is passionate about the prospects of blockchain and the freedom cryptocurrencies afford people across borders. He holds small amounts of bitcoin and tether.

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