Ethereum Investment Funds Saw Record Outflows of $50M
Net outflows from cryptocurrency funds totaled $44 million for the week ending June 25, marking the fourth consecutive week of redemptions.
Monday's bitcoin rally could encourage digital-asset inflows because many investors have been on the sidelines since the sell-off in May.
Increasing altcoin flows impliy investors are starting to diversify across their digital asset holdings.
Bitcoin-focused funds had outflows totalling $19.7 million, partly offset by net inflows to funds focused on other categories, including multi-asset funds.
China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction.
The purchase also gives CoinShares access to Elwood’s equity-research team.