The rise of Bitcoin above $ 30,000 in recent weeks caused the excitement of investors who have been in a bear market for a long time, while the interest of institutional investors in BTC and crypto money funds increased.
This rise was reflected as a six-week consecutive entry to crypto money funds. However, a general decline in the BTC and crypto money market caused the inflows and outflows to crypto funds to change.
In this context, CoinShares, which publishes its weekly crypto money report, stated that there were fund outflows from crypto money products last week.
Cryptocurrency products saw a total outflow of $ 30 million last week, while the 6-week inflow flow came to an end.
“Digital asset investment products saw a total outflow of $30 million last week, ending 6 weeks of inflows.
The exits started the previous Friday (April 14), when Bitcoin reached the psychological level of $30,000.
This suggests that the most recent sale was the result of making a profit, especially in the absence of any macroeconomic triggers."
Looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.
While Bitcoin experienced an outflow of $ 53.1 million last week, the largest altcoin Ethereum saw an inflow of $ 16.8 million.
“Ethereum saw around $17 million in inflows last week. This indicates growing confidence among investors after the Shanghai upgrade.”
Looking at the altcoins that registered entries other than ETH, Litecoin (LTC) had $ 0.2 million and Solana (SOL) had $ 0.7 million.
Against these entries, Ripple (XRP) exited $ 0.4 million.
The Bitcoin Short fund, which is indexed to the fall of BTC, also experienced $ 1.5 million entry this week.
Considering the regional fund inflows and outflows, Canada ranked first with a fund outflow of 32 million dollars, while the USA took the second place with an outflow of 21.9 million dollars. Canada and the USA were followed by Sweden with $7 million in output.
Against these outflows, it was seen that there were 28.7 million dollars in Germany, 0.6 million dollars in Switzerland and 1.3 million dollars in Brazil.
*Not investment advice.
