While Bitcoin continues its volatile movements after its correction, Coinshares published its weekly cryptocurrency report.
Stating that it experienced a record outflow of 942 million dollars in cryptocurrency investment products last week, Coinshares said that 7 weeks of inflows have ended.
“Cryptocurrency investment products saw record weekly inflows totaling $942 million last week, the first outflow following a streak of record inflows totaling $12.3 billion over 7 weeks.”
When looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.
BTC experienced inflows of $904 million, representing approximately 96% of all outflows, while the largest altcoin, Ethereum (ETH), saw outflows of $34.2 million.
There was also an outflow of $3.7 million in the Bitcoin Short fund, which was indexed to the decline of BTC.
When we look at other altcoins, Solana (SOL) experienced an outflow of $ 5.6 million and Cardano (ADA) experienced an outflow of $ 3.7 million; Litecoin (LTC) experienced an inflow of $2.0 million, XRP $1.2 million, and Polkadot (DOT) $5 million.
“96% of the outflows consisted of Bitcoin, which recorded outflows of $904 million, while the short Bitcoin fund also saw smaller outflows totaling $3.7 million.
Ethereum, Solana, and Cardano also suffered losses, with outflows of $34 million, $5.6 million, and $3.7 million, respectively.
The rest of the altcoin space performed well, seeing net inflows of $16 million; The most important of these were Polkadot ($5 million), Avalanche ($2.9 million) and Litecoin ($2 million).
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an outflow of 860 million dollars.
After the USA, Switzerland ranked second with 36.9 million dollars, and Sweden ranked third with 25.2 million dollars.
In response to these outflows, Canada experienced an inflow of 8.4 million dollars and Brazil experienced an inflow of 8.9 million dollars.
*This is not investment advice.
