Crypto Investment Funds See Outflows for Fourth Consecutive Week
Bitcoin-related products accounted for $38 million of the $54 million in total outflows.
Digital asset investment funds experienced a fourth consecutive week of net outflows, with $54 million exiting in the seven days ended May 14, according to a CoinShares report on Monday.
The outflows coincided with sizable declines in crypto prices last week, including bitcoin’s tumble from above $28,000 at its high on Wednesday to below $26,000 by late in the day on Friday.
“The outflows were broad from a regional perspective, suggesting negative sentiment is not concentrated on just a few investors,” CoinShares said.
Of the $54 million in money exiting, bitcoin-related products accounted for $38 million, according to the report. Bitcoin outflows over the past four weeks have now reached $160 million, or 80% of the total for all crypto over that period.
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