Crypto Funds See Net Outflows of $4M

Bitcoin saw the quietest trading week since October.

AccessTimeIconJul 12, 2021 at 3:47 p.m. UTC
Updated Sep 14, 2021 at 1:24 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto funds saw a $4 million net capital outflow for the week ended July 9, reversing the prior week's net capital inflow of $63 million. Trading volume in bitcoin, the largest cryptocurrency by market value, dropped to $1.58 billion, the lowest since October 2020. 

For the week ended July 9, bitcoin-focused funds recorded a $7 million capital outflow, according to a report by digital asset manager CoinShares. The cryptocurrency’s price has been consolidating in a narrow range of $32,000 to $35,000. 

For recent weeks, North American funds dedicated to bitcoin have seen constant capital inflows while their European counterparts kept seeing outflows, which indicates “a geographic divergence in sentiment at present,” according to CoinShares. 

Since the start of the year, multi-asset investment funds have seen a $362 million net capital inflow in total, representing 16.5% of assets under management of such funds. Crypto funds dedicated to bitcoin have witnessed $4.184 billion of net inflows, representing 15.6% of assets under management, while ether has attracted $961 million, or 9.9%. 

“While the inflows [in multi-asset investment funds] remain relatively small in comparison to bitcoin and ethererum, the data does imply that investors are increasingly looking to diversify their digital asset holdings,” wrote CoinShares.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.