The rough start of this week saw Bitcoin falling to about $37,935, and Ether went down to $2,440 while the total crypto market cap is back at $1.62 trillion.

Last week, however, was a good one for cryptocurrency prices as Bitcoin went to $42,500 for the first time since May, and Ether went to nearly $2,700.

Despite the recent price recovery, negative sentiment, mainly due to the Infrastructure Bill, continued to plague digital asset investment products as investors sold into the recent price strength.

Digital asset products saw outflows for the fourth consecutive week totaling $19.5 million, down from $28 million in the previous week.

This suggests that “investors were using recent strength in prices to take profits,” per CoinShares report.

Since the outflows began in mid-May prompted by negative price action, outflows have totaled $29.5 million, representing 1% of assets under management (AUM). During the 2018 price rout, however, outflows were far greater.

In the 2018 bear market, the outflows totaled 5% of AUM, which occurred over a shorter period of 9 weeks rather than the current 12 weeks, as per the report.

The majority of these outflows were yet again limited to Bitcoin, which saw $213 million flowing out of the products. With the 4th consecutive week of outflow, Bitcoin has basically borne the brunt of these outflows, although inflows year-to-date remain high at $4.113 billion.

But they have surely come off a bit from their peak of $4.7 billion seen in early May.

Ethereum saw outflows of $9.5 million for the second week in a row, up from $7.3 billion in the previous week. But unlike Bitcoin’s outflows in 10 out of the last 12 weeks, investors have been more forgiving with Ethereum as it only had 6 weeks of outflows during this period.

Interestingly, it is yet again multi-assets products bucking the trend.

Yet another week of inflows resulted in bringing in $7.5 million, up from $3.1 million the previous week. It is also the only set of investment products that recorded inflows every week this year.

Compared to Bitcoin’s total AUM of just over $31.6 billion and Ether’s almost $10.64 billion, multi-asset investment products currently stand at about $2.4 billion.

When it comes to altcoins, XRP, Polkadot, Bitcoin Cash, and Cardano had minor inflows.

XRP -5.33% XRP / USD XRPUSD $ 0.71
-$0.04 -5.33% Volume 2.52 b Change -$0.04 Open $0.71 Circulating 46.31 b Market Cap 32.76 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=XRP&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 4 h Ripple's Brad Garlinghouse Requests For XRP Related Documents From Binance 5 h Monetary Authority of Singapore (MAS) Grants its First Approval to A Crypto Exchange 6 h Investors Took Profits on BTC & ETH In the Recent Price Surge, But Invested in Multi-Asset Products DOT -6.79% Polkadot / USD DOTUSD $ 17.27
-$1.17 -6.79% Volume 1.37 b Change -$1.17 Open $17.27 Circulating 980.62 m Market Cap 16.94 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=DOT&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 6 h Investors Took Profits on BTC & ETH In the Recent Price Surge, But Invested in Multi-Asset Products 2 w Bitcoin Retesting the Lower-End of Range, OI Still Continues to Soar While GBTC Unlocks Now Behind Us 2 w Cardano Launches Latest Version Of Alonzo Testnet, Dubbed Alonzo White BCH -2.08% Bitcoin Cash / USD BCHUSD $ 538.71
-$11.21 -2.08% Volume 2.05 b Change -$11.21 Open $538.71 Circulating 18.81 m Market Cap 10.13 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BCH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 6 h Investors Took Profits on BTC & ETH In the Recent Price Surge, But Invested in Multi-Asset Products 5 d Paypal Reports “Strong Adoption & Trading Of Crypto” In Q2; Currently Working On Allowing Transfers To Third-party Wallets 1 w Bitcoin and Ether Rallies to Confirm Double-Bottom Pattern, Those Sitting on Sidelines in Stablecoins to Take Them Higher ADA 3.57% Cardano / USD ADAUSD $ 1.38
$0.05 3.57% Volume 1.95 b Change $0.05 Open $1.38 Circulating 32.08 b Market Cap 44.12 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ADA&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 2 h Zcash Founder Proposes Moving to A 'More Decentralized' & Eco-Friendly PoS as PoW Has 'Security Flaws' 6 h Investors Took Profits on BTC & ETH In the Recent Price Surge, But Invested in Multi-Asset Products 1 w Bitcoin and Ether Rallies to Confirm Double-Bottom Pattern, Those Sitting on Sidelines in Stablecoins to Take Them Higher

The trading volume of these investment products volumes rose 173% compared to the previous week when it was at a $1.7 billion low, which was also just 22% of the high in volumes seen in May.

When it comes to asset managers, the largest one, Grayscale, finally sees some inflows along with ETC Issuance, 21Shares, and Bitwise but extremely low at $8.2 million, $31.2 million, $7.1 million, and $0.3 million, respectively, while every other fund had outflows with CoinShares having the biggest one of $49.6 million.

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