Investors seem to be spreading their risk across the crypto sector with multi-asset products beating out BTC and ETH by inflows.
Investors are yet to regain assurance in the crypto markets, with weekly crypto investment product capacity dropping to its lowest level since October 2020.
Crypto investment products also saw a USD 4 million outflows for the week with close to $7 million exiting Bitcoin tracking products. The European Bitcoin products saw inflows overall which suggested that some investors believe the worst of 2021’s bear market may have past. Ethereum products also saw slight inflows of $800,000 for the week.
The latest updates by CoinShare suggests that investors are on the fence after the previous week’s bullish recovery that saw $63 million injected into BTC and ETH products.
Multi-asset products have seen year-to-date USD 362 million inflow and now represent 16.5% of assets under management of multi-asset funds.
Investors also showed their interest in Cardano with inflows adding to USD 600,000 last week. Despite the recent regulatory scrutiny aimed at Binance, Binance Coin products saw inflows of $400,000.
