According to data shared by CoinShares, as investors withdraw their money, bitcoin and Ethereum crypto funds Last week, it had its biggest net outflows since January.
A Total Outflow Of $134 Million From Crypto Money Funds
With a net outflow of $134 million, it was the second worst week of the year in this area. Digital asset mutual funds have thus made a sharp comeback after experiencing large net inflows in a row for the past two weeks.
At the beginning of the products that experienced fund exit, Bitcoin products came with 131.8 million dollars. Short BTC investment products, which profited from the fall in Bitcoin price, recorded the largest ever net fund inflow with $2 million.
Before the last drop, there was a positive mood in the flow of funds, with the Bitcoin price rising from $38,000 to $48,000 in just two weeks at the start of April.
The report included the following explanations on the subject:
“Due to the price surge last week, investors’ desire to sell profits may have increased. The fact that daily trading volumes ($2.3 billion) is lower than average gives a clue that there is not too much stress among investors.”
Fund outflows for Ethereum have reached $126 million since the beginning of the year, with a net outflow of $15.3 million in Ethereum-focused funds.
Altcoin Funds Resist Drop
However, other than Ethereum altcoin funds and multi-asset funds resisted losses and saw net fund inflows of $6 million and $5 million, respectively.
If we examine the asset asset Solana’s (LEFT) We see that it is leading altcoins with a net fund inflow of $ 3.7 million. Last week, SOL had a fund inflow performance of $8.2 million.
Cardano (ADA) focused funds recorded net inflows of $1 million in total Litecoin There was a net fund inflow of $600,000 to the funds.
Although asset outflows generally came from both European and American funds, American funds accounted for 61% of the outflows.
Investment products managing blockchain-connected stocks remained strong, seeing $32 million in asset inflows.
*Not investment advice.