Research Summary
The report discusses the trends in digital asset fund flows as of July 31, 2023. The report highlights that digital assets have seen just under US$0.5bn of inflows at the half-year mark. There has been a significant outflow from long-Bitcoin investment products, suggesting investors taking profits. However, the sentiment for Bitcoin remains supportive. Investors are showing interest in altcoins, with inflows totalling US$3m last week and US$19m over the last 8 weeks. Trading volumes for digital asset investment products were low, reflecting in the broader Bitcoin market.
Actionable Insights
- Investment trend in Bitcoin: There has been a significant outflow from long-Bitcoin investment products, suggesting investors are taking profits.
- Investor sentiment towards Bitcoin: Despite the outflows, the sentiment for Bitcoin remains supportive.
- Investment trend in altcoins: Investors are showing interest in altcoins, with inflows totalling US$3m last week and US$19m over the last 8 weeks.
- Trading volumes: Trading volumes for digital asset investment products were low, reflecting in the broader Bitcoin market.
