Analysts noted capital outflows from crypto funds

by Max Nevskyi

3 years ago

Last week, analysts observed a small outflow of funds from cryptocurrency investment products, totaling $16 million. According to experts at CoinShares, this decrease is more likely due to profit-taking rather than a change in investor sentiment. Trading activity in the crypto market remained high, reaching $3.6 billion for the week.

In the US, the main capital outflow was recorded at $18 million, while in Germany, it amounted to $10 million. However, these losses were partially offset by inflows of funds into Canada and Switzerland, amounting to $6.9 million and $9.1 million, respectively.

Products focused on Bitcoin (BTC) experienced the greatest losses with an outflow of $33 million. There was also an outflow from short positions in BTC of $0.3 million. At the same time, altcoins showed positive dynamics. Crypto funds focused on Solana (SOL), Cardano (ADA), Ripple (XRP), and Chainlink (LINK) attracted $18.3 million in investments. Ethereum (ETH) and Avalanche (AVAX) also attracted $4.4 million and $1 million, respectively.

Blockchain stocks continue to attract investor attention, with inflows into such products totaling $122 million last week.

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