Inflows to digital asset products slowed to $1.3 million during the week ending April 23, down from $233 million during the prior week, according to a new report by CoinShares, a digital asset investment firm, published on Monday.
The latest figure marks the lowest level of weekly inflows since October 2020.
- “The low inflows overall mask varied flows amongst digital assets. Outflows were primarily focused on bitcoin (BTC) with $21 million, being the largest weekly outflow on record.”
- However, Ethereum (ETH) products saw inflows of $34 million last week and $792 million year-to-date.
- Bitcoin prices fell 14% during the seven days through April 23, while ether rose 18%.
- Trading volumes among investment products remained at a low of 5% of total bitcoin volumes last week, according to CoinShares.