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Crypto AuM at lowest point as investors buy the Bitcoin dip

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In the week of June 13, crypto investment products generated $39 million in outflows, bringing the industry’s value of assets under management (AuM) to $36 billion, its lowest level since February 2021, CoinShares. informed.

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Bearish sentiment among investors may be nearing its peak, according to the report, as Short Bitcoin recorded a $5.8M outflow after its AuM hit an all-time high of $64M.

Investors buy bitcoin on a dip

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Despite falling below $20,000 last week, CoinShares has identified clear signs that investors are buying the dip as $28 million of bitcoin inflows hit.

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The influx indicates that investors have taken advantage of the Bitcoin crash to buy the coin at low prices. For context, the total BTC inflow for this month is now $46 million.

Meanwhile, Ethereum has been suffering from churn for 11 consecutive weeks. The top altcoin registered a $70 billion outflow in the week of June 13th, bringing its total outflow for this year to $458.6 million.

Solana appears to be capitalizing on Ethereum’s failure as it received a $0.7 million influx. Ethereum Killer has recorded an influx of over $100 million over the past 12 months.

Multi-asset investment products also posted another week of inflows, recording $9 million.

Canadian exchanges record outflows

A quick look at the data showed Canadian exchanges leading the way in outflows with $141.2 million, while Sweden comes in second with an outflow of $8.3 million.

However, exchanges in the US, Germany, Brazil and Switzerland recorded significant inflows to drive down churn margins.

US exchanges received $79 million, while European countries registered $12 million.

ETF target leads inflow to service providers

Purpose ETF and Pro Shares recorded inflows of $134.6 million and $78.6 million, respectively. Other major crypto investment service providers such as Grayscale, ETC Group and 21 Shares have also recorded positive flows.

Meanwhile, 3iQ leads the way in churn with $274 million. Its annual flow now stands at a staggering $425 million. It is followed by CoinShares XBT, which recorded an outflow of $8.3 million. Its outflow this year is also now $375 million.

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