Crypto Investment Funds Have First Week of Outflows in 6 Weeks

Net outflows totaled $30 million.

AccessTimeIconApr 24, 2023 at 4:12 p.m. UTC
Updated Apr 24, 2023 at 4:23 p.m. UTC

Digital asset investment funds had net outflows for the first time in six weeks last week, totaling $30 million, according to a report by CoinShares.

Outflows began on April 14, coinciding with bitcoin (BTC) reaching $30,000 for the first time in almost a year – suggesting the most recent sell-off was a result of profit-taking, CoinShares said.

The total for bitcoin outflows was $53 million last week after a four-week run of inflows.

Ether (ETH) had inflows of $17 million, suggesting investor confidence following the Shanghai network upgrade, according to the report.

Edited by Sheldon Reback.


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Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

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