Crypto funds experienced a slight decline last week as investors withdrew $11.2 million from digital asset investment products, according to a report by cryptocurrency analysis company CoinShares.
The Decline in Cryptocurrency Funds Continues
This was the seventh consecutive debut week, bringing total output since mid-July to $342 million.
Unlike other coins, Bitcoin saw an inflow of $3.8 million, while among altcoins, Polygon and Ethereum saw the largest outflows of $8.6 million and $3.2 million, respectively, indicating a waning interest in these networks.
On the other hand, Solana continued to record inflows of US$0.7 million for the ninth consecutive week.
The report stated that Solana is “currently the most popular altcoin among investors” with $26 million in inflows year-to-date.
Blockchain stocks, which are stocks of companies in the crypto industry, also saw outflows of $25 million in the fourth week.
While there was an outflow from cryptocurrency funds in Europe-based funds and especially in Germany, there was a slight inflow in the USA.
*This is not investment advice.
