According to data released by crypto asset management company CoinShares today (31st), digital asset investment funds experienced a net weekly outflow of US$20.9 million last week, with a trading volume of only US$915 million (the average weekly trading volume this year is US$1.5 billion) .

Source: Coinshares

93% of net outflows came from Bitcoin long products, while Bitcoin short products saw net outflows for the 14th consecutive week, totaling $3.1 million. This suggests that investors have been taking profits in recent weeks and overall sentiment towards Bitcoin remains supportive, CoinShares said.

The report also showed that inflows into altcoin-related investment products totaled $3 million last week and $19 million over the past eight weeks, indicating that investors have recently favored altcoins (excluding Ethereum). Investment products such as Cardano, Solana and XRP saw the highest inflows at $640,000, $600,000 and $500,000 respectively.

This article CoinShares: Digital asset investment products have experienced net outflows for two consecutive weeks, and investors favor altcoins. It appeared first on Zombit.