As investors wait for a rally from Bitcoin and altcoins, Coinshares has released its weekly cryptocurrency report.
Coinshares said it had $107 million outflows from crypto funds last week.
“Cryptocurrency investment products debuted this week, and profit growth has accelerated in recent weeks, totaling $107 million.”
Looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.
While BTC experienced an outflow of $ 111.4 million last week, the largest altcoin Ethereum (ETH) saw an outflow of $ 5.9 million.
It was seen that there was no movement in the direction of an exit or entry in the Bitcoin Short fund, which was indexed to the fall of BTC.
When we look at other altcoins, Solana (SOL) saw $ 9.5 million, XRP $ 0.5 million, Litecoin (LTC) $ 0.5 million, while Cardano (ADA) experienced $ 0.3 million outflow.
“Bitcoin is again the primary focus, seeing a total outflow of $111 million, the biggest weekly outflow since March.
Altcoin sentiment seems to be recovering and stabilizing the outflows in Bitcoin and Ethereum.
Solana saw the biggest entry, with a total of $9.5 million.”
Looking at the regional fund inflows and outflows, it was seen that Canada ranked first with an outflow of 70.8 million dollars.
After Canada, Germany ranks second with 28.5 million dollars; Switzerland took the third place with 6.1 million dollars.
Against these exits, Australia is $0.3 million; The US, on the other hand, had an inflow of $ 0.2 million.
*Not investment advice.