Apathy persists, with inflows of US$6.1 million, while Bitcoin trade volumes more than quadrupled.
Minor inflows of US$6.1m were recorded in digital asset investment products, extending investor indifference that has already lasted 7 weeks.
Bitcoin witnessed inflows of US$13 million; it was also the main driver of the growth in trade, accounting for 70% of volumes and increasing 100% over the previous week.
Short-bitcoin withdrawals totaled US$2.4 million in the second week, bringing the total outflows from mid-September to US$20 million.
With the exception of XRP, which received US$0.5 million in inflows, altcoins witnessed virtually little action.
Minor inflows of US$6.1m were recorded in digital asset investment products, extending investor indifference that has already lasted 7 weeks. Recent price appreciation has grown from US$24 billion to US$27 billion but is significantly behind the US$86 billion highs observed this time last year. However, trade volumes increased 77% from the previous week to US$1.3 billion, showing that activity is building up.
Regionally, the US and Germany were the only countries to see inflows which totaled US$13m and US$3.3m respectively. Brazil, Canada, Sweden, and Switzerland saw outflows of US$10m in aggregate.
Bitcoin saw inflows totaling US$14m, it was also the key proponent for the increase in trading, comprising 70% of investment product volumes, having risen 100% relative to the prior week. Short-bitcoin saw the second week of outflows totaling US$2.4m, with outflows since mid-September now totaling US$20m (15% of assets under management (AuM)).
Ethereum saw its fourth consecutive week of outflows at US$2.1m, increasing its total outflows since the merger to US$14m, exhibiting extremely minimal negative sentiment given its 0.2% share of AuM.
Multi-asset investment products witnessed slight outflows totaling US$3.1m, while cryptocurrencies saw minimal activity with the exception of XRP, which saw US$0.5m inflows.