‘Bitcoin’While the selling pressure following the spot ETF approval in CoinShares published its weekly cryptocurrency report.
CoinShares, He stated that there were small outflows of $21 million in cryptocurrency products last week.
When looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.
BTCthe largest altcoin with an outflow of $24.7 million last week in Ethereum (ETH) There was an outflow of 13.6 million dollars.
The Bitcoin Short fund, which is indexed to the decline of BTC, saw an inflow of $12.7 million this week.
When we look at altcoins Litecoin (LTC) 1.5 million dollars, Solana (LEFT) While it experienced an outflow of 8.5 million dollars, Cardano (ADA) remained neutral, XRP experienced an inflow of 0.5 million dollars.
“Cryptocurrency investment products saw small outflows last week totaling $21 million, but this top line figure masks very high trading volumes last week totaling $11.8 billion in Bitcoin, 7 times the usual weekly trading volume in 2023 .
Altcoins also suffered; Ethereum and Solana saw outflows of $14 million and $8.5 million respectively.”
When looking at regional fund inflows and outflows, it was seen that there was a general outflow in countries.
While Canada ranked first with fund outflow of 165.4 million dollars, Germany ranked second with 98.4 million dollars.
In response to these outflows, the USA experienced an inflow of 263.2 million dollars and Brazil experienced an inflow of 6.8 million dollars.
*This is not investment advice.
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