James Butterfill, Investment Strategist at London-based
CoinShares, a digital asset manager focused on expanding access to the cryptocurrency ecosystem while serving as a “trusted partner” for its clients, notes in a blog post published on Tuesday (April 26, 2021) that “poor sentiment” for Bitcoin led to “low inflows of $1.3 million, masking improving appetite for Ethereum.”
Butterfill further noted that flows for digital asset investment products “slowed to their lowest weekly figure since October 2020 at just $1.3 million.”
“Worries over Bitcoin mining issues in Xinjiang, China, spooked the market with assets under management (AUM) $10 billion lower than the previous week. AUM now sits at $54 billion.