A recent report from CoinShares has revealed that confidence of institutional investors in the crypto space is at an all-time low as it has dropped to its lowest level since October 2020.
Per the report, between July 5 and July 9, only $1.58 billion worth of crypto products were traded. The report continued that investments saw outflows that were as high as $4 million during the week. However, some European Bitcoin products saw new inflows which means that some investors think the current bear market is now in the past. Also, Ethereum-related products also saw inflows of up to $800,000 during the week.
This latest data pales significantly against that of the previous week where the two leading crypto assets saw investments of around $63 million put into products related to them. This is an indication that the investors are currently undecided on whether to take the plunge into the space or still hold on to their funds.
It should be noted that BTC products have also recorded more outflows than inflows in the last two months. Ethereum outflows have also totaled $64.3 million since June 6.
However, despite the investors cautiousness in investing in the two leading assets, they are actively diversifying their portfolio as multi-asset products have continued to see inflows. The most recent data shows that these products have seen inflows of $1.2 million. In the last one year, these products have seen a total inflow of over $350 million and now represent a substantial part of assets under management (AUM) of multi-asset funds.
