{"id":9379,"date":"2023-05-16T08:08:25","date_gmt":"2023-05-16T12:08:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/digital-asset-fund-outflows-reach-200-million\/"},"modified":"2023-05-16T08:08:26","modified_gmt":"2023-05-16T12:08:26","slug":"digital-asset-fund-outflows-reach-200-million","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9379","title":{"rendered":"Digital Asset Fund Outflows Reach $200 Million"},"content":{"rendered":"
\n

Crypto-backed investment funds saw net outflows for the 4th<\/sup> consecutive week last week, bringing the total outflows for the 4-week period to $200 million, CoinShares\u2019 latest crypto fund flows report showed.<\/p>\n

For last week alone, outflows from crypto-backed funds reached $53.8 million, approximately the same as the week before, when 53.7 million left crypto funds.<\/p>\n

The outflows for the week were driven mainly by $37.5 million in outflows from funds backed by Bitcoin (BTC), the data showed.<\/p>\n

For Bitcoin funds specifically, last week represents a worsening from the week before, when $31.8 million were withdrawn on a net basis.<\/p>\n

Over the four-week period, total outflows from Bitcoin funds have reached $160 million, accounting for approximately 80% of the total outflows across all crypto fund categories during the same period.<\/p>\n

Interestingly, the second-biggest fund category in terms of outflows last week was short-Bitcoin funds, which recorded outflows of $10.4 million.<\/p>\n

Short-Bitcoin funds make money when the Bitcoin price falls, and outflows from these funds indicate that speculators are becoming less bearish.<\/p>\n

According to CoinShares, the large share of investment money moving in and out of Bitcoin funds means that investor activity now is almost solely focused on Bitcoin rather than altcoins.<\/p>\n

In terms of altcoin funds, the biggest change for the week was seen in so-called multi-asset funds, which are funds backed by a basket of different digital assets. This fund category saw outflows of $6.7 million, according to CoinShares\u2019 data. \u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto-backed investment funds saw net outflows for the 4th consecutive week last week, bringing the total outflows for the 4-week period to $200 million, CoinShares\u2019 latest crypto fund flows report showed. For last week alone, outflows from crypto-backed funds reached $53.8 million, approximately the same as the week before, when 53.7 million left crypto funds. 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