On May 15, the European cryptocurrency investment company CoinShares released the latest "Digital Asset Fund Flow Report". The report shows that digital asset investment products have experienced another week of outflows, with a total of 54 million US dollars outflowing from the market. This brought “total outflows to $200 million, or 0.6% of total assets under management (AuM),” CoinShares reported.
According to reports, bitcoin, Outflows amounted to $38 million. Over the past 4 weeks, total BTC outflows amounted to $160 million, accounting for 80% of all outflows. Furthermore, when combined with outflows from short Bitcoin positions, the total value of outflows related to the asset alone came to $201 million. These numbers strongly suggest that recent investor activity has been overwhelmingly focused on Bitcoin.
The report also noted that multi-asset investments saw outflows of $7 million in the past week. However, there was a noteworthy development as inflows were observed across eight different altcoin assets, implying that investors became “more adventurous and selective” in their investment choices.
Among altcoins, funds linked to Cardano, TRON and sandbox. Attracted small inflows of less than $1 million each. Binance Coin is the only altcoin to witness outflows of funds. A recent survey by Bloomberg Markets Live Pulse suggests that Bitcoin could become one of the top three assets, along with gold and U.S. Treasuries, in the event of a theoretical U.S. debt default. This suggests interest in bitcoin as "digital gold" could emerge if investors doubt Washington's ability to avoid default in the long run.
