Bitcoin ends week with inflows of $375 million as multi-asset products face losses of $121 million

Last week saw $308 million in inflows into digital asset investment products, although this was overshadowed by a large outflow of $576 million on December 19. The last two days of the week saw total outflows of $1 billion.

Recent price declines have resulted in a $17.7 billion drop in total assets under management (AuM) for digital asset ETPs, which is likely influenced by the Federal Reserve’s hawkish dot plot stance released Wednesday.

Bitcoin records strong inflows

While these outflows are significant, it is also important to note that these numbers represent only 0.37% of total assets under management and rank as the 13th largest daily outflows in history, according to the latest edition from CoinShares’ weekly digital asset fund flow report.

In comparison, the largest single-day outflow occurred in mid-2022, when an outflow of $540 million (2.3% of assets under management) followed rising interest rates of the Fed.

Although Bitcoin saw some outflows during the week, it ended with net inflows of $375 million, indicating strong market sentiment. On the other hand, short Bitcoin products saw only $0.4 million in inflows, reflecting the lack of significant interest from short sellers.

The “most dramatic” capital outflows came from multi-asset investment products, which saw a sharp decline of $121 million last week.

On the altcoin front, to favor more selective opportunities. Chainlink, Cardano, and Litecoin also received modest inflows of $1.7 million, $0.7 million, and $0.6 million, respectively.

Meanwhile, Ethereum continued its positive streak and attracted $51 million, while Solana saw outflows of $8.7 million during the same period.

Switzerland faces largest digital asset outflows

The United States continued to dominate digital asset flows, attracting $567 million over the past week. Brazil and Australia followed with $16.6 million and $10.2 million in inflows, respectively, while other regions saw outflows.

Topping the chart with the highest number of capital outflows during the same period, Switzerland recorded $95.1 million, followed by Germany and Canada with $74.7 million and 60.1 million dollars. Capital outflows were also recorded in Sweden and Hong Kong, at $42.1 million and $12.1 million, respectively.