June Witnessed Third Highest Crypto Outflows Ever: CoinShares Report
Was June a bad month for crypto? While headlines may have pointed towards concerning outflows, understanding the full picture requires examining the latest CoinShares data. According to CoinShares\' weekly digital fund flow data, the crypto industry saw a sharp increase in outflows towards the end of June. As per the latest CoinShares report, crypto asset investment products posted their third consecutive week of outflows, shedding a record-setting $2.9 billion in exits amid market uncertainty.
On June 12, European cryptocurrency investment firm CoinShares published its latest weekly “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products faced headwinds. These outflows contributed to a narrative of market correction, even as other factors painted a more nuanced story. The headline "june witnessed third highest crypto outflows ever coinshares" captured this negative sentiment, raising concerns about investor confidence.
Digital asset investment products saw outflows totaling $795 million last week, bringing the year-to-date figure down to just $165 million, according to a new report by CoinShares. However, it\'s crucial to note that this period contrasts sharply with recent positive trends. The cryptocurrency market experienced a significant resurgence last week, as digital asset investment products recorded a substantial $3.4 billion in inflows, marking the third-largest weekly inflow ever, according to the most recent CoinShares report.
Bitcoin led these investments with $3.18 billion, while Ethereum also saw positive inflows. Crypto asset management firm CoinShares says institutional investments into digital asset vehicles nearly set a new record last week. According to the latest Digital Asset Fund Flows Report, a significant shift occurred shortly after the period of concern in June. In a remarkable turn of events, global crypto investment products managed by leading asset firms such as BlackRock, Bitwise, Fidelity, Grayscale, and ProShares have shown resilience.
Digital asset inflows hit US$3.3bn last week, pushing YTD inflows to a record US$10.8bn and total AuM to an all-time high of US$187.5bn. Bitcoin led with US$2.9bn in inflows, while short Bitcoin positions were notably absent. Therefore, while acknowledging that "june witnessed third highest crypto outflows ever coinshares" highlights a period of negative flow, it\'s essential to consider the broader context and subsequent positive market developments.