BTC

$94017.116

0.20%

ETH

$3397.025

1.13%

XRP

$2.078

-3.20%

BNB

$704.565

0.35%

News

$147 Million Crypto Fund Exit Ends Three-Week Inflow Streak

October 7, 2024 - Around 2 mins mins to read

Key Points:

  • Digital asset investment products witnessed $147 million worth of net outflows globally last week, according to CoinShares.
  • The outflows end a three-week run of positive flows, and higher-than-expected economic data is likely the culprit, Head of Research James Butterfill said.
Global crypto funds saw a $147 million crypto fund exit last week, ending a 3-week inflow streak. U.S. funds led to losses.
$147 Million Crypto Fund Exit Ends Three-Week Inflow Streak

$147 Million Crypto Fund Exit, Ending 3-Week Streak

In all, crypto funds globally have net outflows of $147 million, breaking three consecutive weeks of inflows. This was driven by negative sentiment due to economic data, with the lion’s share of outflows coming from U.S. funds.

Bitcoin-based funds were the worst performers, with net outflows of $159 million. Short-bitcoin, on the other hand, saw slight inflows. Other regions such as Germany and Hong Kong also saw negative flows.

Read more: Crypto Fundraising Dips 23% In Q1 2024 But Still Shows Optimistic Background

Multi-Asset Crypto Funds Continue Positive Inflows

Although most crypto funds witnessed outflows, multi-asset products bucked the trend and added $29.4 million in inflows, marking the 16th week of positive flows.

These diversified exposure products have become popular among investors and accounted for $431 million in total inflows since June, underlining a growing trend toward investments that spread risk in the crypto sector.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

crypto

crypto fund

inflow

outflow

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.