Crypto Investment Products See Continuous Outflows, Nearing $500 Million in Nine Weeks

Crypto News
Crypto News

19 Sep 2023 6:00 PM

Capital continued to flow out of crypto-backed investment funds last week, with total outflows for the past nine weeks now nearing $500 million....

  • Capital outflows from crypto-backed investment funds reached nearly $500 million in the past nine weeks.
  • Last week's outflows amounted to $54 million, a slight improvement from the previous week's $59 million.
  • Bitcoin accounted for the majority of outflows, with $45 million leaving Bitcoin funds.
  • Short-Bitcoin funds also experienced significant outflows of $3.8 million, indicating doubt among speculators.
  • Altcoin funds backed by Ethereum's ETH lost $4.8 million, while Binance's BNB saw $300,000 of outflows.
  • CoinShares analyst James Butterfill noted that most outflows were from US, German, Canadian, and Swedish products.
  • Trading volumes increased by 42% to approximately $1 billion for the week.

The article provides a negative sentiment as it highlights the continuous outflows from crypto-backed investment funds and the doubts among speculators regarding the direction of Bitcoin.

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You May Ask

How much capital has flowed out of crypto-backed investment funds in the past nine weeks?What was the amount of outflows from Bitcoin funds last week?Which altcoin funds experienced significant outflows?Which countries' products saw the most outflows?How much did trading volumes increase by for the week?

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