{"id":2425,"date":"2021-12-21T16:49:15","date_gmt":"2021-12-21T16:49:15","guid":{"rendered":"http:\/\/egrowonline.com\/?p=2425"},"modified":"2021-12-21T16:49:15","modified_gmt":"2021-12-21T16:49:15","slug":"bitcoin-and-ether-breaks-trend-with-outflows-while-altcoins-continue-to-see-inflows","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=2425","title":{"rendered":"Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows"},"content":{"rendered":"


\n<\/p>\n

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Last week, digital asset investment products posted outflows of $142 million, the first one after 17 weeks of inflows, according to data from CoinShares.<\/p>\n

Still, these outflows represented only 0.23% of total assets under management (AUM). From a historical perspective, the latest inflows are small relative to the outflows in early 2018, where week’s outflows represented up to 1.6% of AUM.<\/p>\n

For the week ending December 17, the crypto asset products recorded the largest weekly outflow on record after the previous record in early June in 2021, where weekly outflows were $97 million.<\/p>\n

While appearing to be alarming, James Butterfill, investment strategist at CoinShares, further noted that these outflows come at a time when outflows have been recorded across all risk assets following the recent US Federal Reserve statement on doubling the pace of tapering and projecting three rate hikes in 2022.<\/p>\n

\u201cThis trend break very accurately depicts the tax selling, redemption, and bonus clipping flow,\u201d said Zaheer Ebtikar of Deribit Insights. Once this selling abates, we could see the \u201cSanta Rally,\u201d just like in December 2020 when in the first two weeks, the price dropped 10% only to rally 50% in the year-end.<\/p>\n

Additionally, these outflows come at a time when yearly inflows are at a record high at $9.5 billion, beating the $6.7 billion inflows in 2020.<\/p>\n

Out of these outflows, Bitcoin (BTC) accounted for $89 million, well below the June outflows of $150 million. Ethereum (ETH) meanwhile saw record outflows of $64 million.<\/p>\n

BTC 6.79%<\/p>\n

Bitcoin \/ USD\n<\/p>\n

$ 48,863.34
\n$3,317.82
\n6.79%<\/p>\n

Volume 29.73 b<\/p>\n

Change $3,317.82
\nOpen $48,863.34
\nCirculating 18.91 m
\nMarket Cap 923.85 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n1 h
\nCryptocurrencies Sees Fresh Signs of Green, But Will It Last This Time?
\n20 h
\nBank of England to Coordinate with International Regulators for Stricter Crypto Rules<\/p>\n

ETH 5.68%<\/p>\n

Ethereum \/ USD\n<\/p>\n

$ 4,014.10
\n$228.00
\n5.68%<\/p>\n

Volume 19.71 b
\nChange $228.00
\nOpen $4,014.10
\nCirculating 118.83 m
\nMarket Cap 477 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n1 h
\nCryptocurrencies Sees Fresh Signs of Green, But Will It Last This Time?
\n1 d
\nCrypto Outliers: (LUNA) Amasses $16.9 Bln & Surpass BSC, (AVAX) Aims for 1 Million Daily Transactions<\/p>\n

Amidst these outflows, altcoins like Solana (SOL), (DOT), and multi-asset investment products still managed to record inflows of $6.7 million, $2.5 million, and $1.5 million respectively. Cardano (ADA) and XRP also saw some inflows at $0.5 million and $0.3 million respectively.<\/p>\n

SOL 5.24%<\/p>\n

Solana \/ USD\n<\/p>\n

$ 179.82
\n$9.42
\n5.24%<\/p>\n

Volume 2.06 b
\nChange $9.42
\nOpen $179.82
\nCirculating 308.34 m
\nMarket Cap 55.44 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n1 d
\nCrypto Outliers: Terra (LUNA) Amasses $16.9 Bln & Surpass BSC, Avalanche (AVAX) Aims for 1 Million Daily Transactions
\n5 d
\nKevin Durant Signs Multiyear Deal with Coinbase (NASDAQ:), Michael Jordan Launching HEIR on Solana<\/p>\n

DOT 6.78%<\/p>\n

Polkadot \/ USD\n<\/p>\n

$ 25.17
\n$1.71
\n6.78%<\/p>\n

Volume 1.02 b
\nChange $1.71
\nOpen $25.17
\nCirculating 987.58 m<\/p>\n

Market Cap 24.86 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n2 d
\nSBI (NS:) Holdings to Launch Japan\u2019s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH
\n1 w
\nSolana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows<\/p>\n

ADA 4.22%<\/p>\n

Cardano \/ USD\n<\/p>\n

$ 1.26
\n$0.05
\n4.22%<\/p>\n

Volume 1.26 b
\nChange $0.05
\nOpen $1.26
\nCirculating 34.17 b
\nMarket Cap 43.09 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n1 w
\nSolana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report
\n1 w
\nSolana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows<\/p>\n

XRP 7.37%<\/p>\n

XRP \/ USD\n<\/p>\n

$ 0.90
\n$0.07
\n7.37%<\/p>\n

Volume 3.81 b
\nChange $0.07
\nOpen $0.90
\nCirculating 47.25 b
\nMarket Cap 42.44 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n2 d
\nSBI Holdings to Launch Japan\u2019s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH
\n1 w
\nLedger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card<\/p>\n

While Tron (TRX) and Litecoin (LTC) didn\u2019t see any flows, Binance did have some outflows of $0.8 million.<\/p>\n

TRX 4.36%<\/p>\n

TRON \/ USD\n<\/p>\n

$ 0.08
\n$0.00
\n4.36%<\/p>\n

Volume 1.38 b
\nChange $0.00<\/p>\n

Open $0.08
\nCirculating 101.87 b
\nMarket Cap 8 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n3 d
\nJustin Sun Stepping Down from Tron (TRX) Leadership To Be A Diplomat For Grenada
\n1 w
\nSolana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report<\/p>\n

LTC 4.51%<\/p>\n

Litecoin \/ USD\n<\/p>\n

$ 153.88
\n$6.94
\n4.51%<\/p>\n

Volume 1.31 b
\nChange $6.94
\nOpen $153.88
\nCirculating 69.24 m
\nMarket Cap 10.65 b<\/p>\n

8 min
\nBitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
\n2 d
\nSBI Holdings to Launch Japan\u2019s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH
\n1 w
\nLedger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card<\/p>\n

Like last week, Purpose Investments launched the first Bitcoin ETF, and then Ether ETF in Canada, recorded the largest inflows while CoinShares, ProShares, ETC Group, and 3iQ all recorded outflows.<\/p>\n

Grayscale, the largest digital asset manager, still hasn\u2019t seen any inflows. And as the SEC postponed the decision on the firm\u2019s application to convert its Bitcoin Trust to an ETF in early February, GBTC hit a new low of 21.36%.<\/p>\n

\nGBTC near all-time-low, over 20% discount. pic.twitter.com\/TA8ie6JTO4<\/p>\n

\u2014 unfolded. (@cryptounfolded) December 20, 2021<\/p>\n<\/blockquote>\n

Still, according to a recent CNBC Millionaire Survey, most millennial millionaires have the bulk of their wealth in crypto and are planning to add more next year.<\/p>\n

A whopping 83% of them own crypto, as per the survey which polled those with investable assets of $1 million or more. 53% of these millennial millionaires have at least half of their wealth in crypto.<\/p>\n

In comparison, more than three-quarters of Gen X investors do not own any crypto assets, while only 4% of baby boomers hold them.<\/p>\n

Despite the ongoing lack of bullish price action in the market, millennial millionaires have no plans to reduce their crypto allocation; rather, 48% of them plan to add to their holdings next year\u2014another 39% plan to maintain their current crypto levels. Only 6% of millennial millionaires plan to reduce their crypto investments over the next 12 months.<\/p>\n

\u201cI\u2019m not sure the wealth management industry has recognized that they really need to think of these as completely different generations,\u201d said George Walper, president of Spectrem Group, which conducted the survey. \u201cMost firms were hoping to ignore it. But millennial millionaires are not going to just \u2018grow out\u2019 of crypto.\u201d<\/p>\n

The post Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows first appeared on BitcoinExchangeGuide.<\/p>\n

Continue reading on BitcoinExchangeGuide<\/a><\/p>\n

<\/div>\n


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Last week, digital asset investment products posted outflows of $142 million, the first one after 17 weeks of inflows, according to data from CoinShares. Still, these outflows represented only 0.23% of total assets under management (AUM). From a historical perspective, the latest inflows are small relative to the outflows in early 2018, where week’s outflows […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[200,50,2236,370,369,676,2237,654],"class_list":["post-2425","post","type-post","status-publish","format-standard","hentry","category-altcoins","tag-altcoins","tag-bitcoin","tag-breaks","tag-continue","tag-ether","tag-inflows","tag-outflows","tag-trend"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2425"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2425\/revisions"}],"predecessor-version":[{"id":2426,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2425\/revisions\/2426"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2425"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}