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

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, 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.