• 22/07/2024 20:24

A record $942 million was withdrawn from crypto funds

The outflow from cryptocurrency investment products from March 16 to March 22 amounted to $942 million after the maximum inflow in history of $2.92 billion. This is stated in the CoinShares review.

A record $942 million was withdrawn from crypto funds

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Previously, positive dynamics were observed for seven weeks. During this period, income from instruments amounted to $12.3 billion. For comparison, for the entire 2021 the figure was $10.6 billion.

A record $942 million was withdrawn from crypto funds

Trading turnover amounted to $28 billion after a record $43 billion in the previous week.

The main driver of the negative dynamics was outflows from GBTC from Grayscale in the amount of $2 billion. They exceeded net inflows to its competitors ($1.1 billion ).

As a result, market participants withdrew a record $904 million from Bitcoin-related instruments after the highest in the history of receipts of $2.86 billion a week earlier.

“The recent price correction has caused investor indecisiveness, which has led to significantly less inflow of funds into new ETFs in the United States,” the experts commented.

Combined with the pullback in quotes, the volume of digital assets under management decreased by $10 billion, to $88 .2 billion. A week earlier, the metric immediately exceeded $100 billion.

From the structures that allow opening shorts on the first cryptocurrency, clients took $3.7 million after the maximum investment since the beginning of the year of $26 million in the previous seven days .

In Ethereum funds, the outflow increased from $13.9 million to $34.2 million. From instruments based on Solana and Cardano, investors withdrew $5.6 million and $3.7 million, respectively.

< p>Products based on Polkadot, Avalanche and Litecoin recorded inflows of $5 million, $2.9 million and $2 million, respectively.

A record $942 million was withdrawn from crypto funds

minfin.com.ua

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