With the Fed’s first rate hike since 2018 and uncertainty over the possible consequences of the war between Ukraine and Russia, cryptocurrency The funds have been experiencing a net outflow for two weeks.
Net $47 Million Outflow From Cryptocurrency Funds Last Week
According to the report shared by CoinShares, when we consider March 18 as the closing, $ 47 million was withdrawn from digital asset investment products in the seven days before this date.
However, the loss experienced last week appeared a little more optimistic than the loss of 110 million dollars last week.
However, it should be noted that before the net outflows in the past two weeks, crypto funds had net inflows for seven weeks in a row.
CoinShares said the following in its report:
“We believe that the recent negative market sentiment in North America has emerged as a result of the regulatory and geopolitical problems caused by the war between Ukraine and Russia.”
Ripple (XRP) Funds Top with Net $1.1 Million
When the data in the aforementioned report is analyzed separately, asset by asset, Bitcoin (BTC) 33 million of its funds, Ethereum (ETH) We see that its funds have a net outflow of 17 million.
CoinShares also interestingly altcoins stated that many of them experienced net inflows in the past week.
In 2022, investors withdrew a net $46.5 million from crypto funds. In total, $53.7 billion in assets are still traded in crypto funds.
*Not investment advice.