Coinshares, which tracks money flows in institutional Bitcoin and altcoin funds, has released its 31st week report.
As of last week, crypto funds have seen a small outflow of $21 million, while volumes have dropped.
While the volumes in the funds were 915 million dollars last week, the decrease in the volumes was remarkable considering the average was 1.5 billion.
While 93% of the outflows were from Long Bitcoin funds, there was an outflow of $ 3.1 million from Short Bitcoin funds. Outflows from Bitcoin Short funds continued for the 14th consecutive week.
While outflows from Long BTC funds continue, the lack of inflows to short BTC funds shows that the sentiment is positive. “Investors are taking profits and the overall sentiment for the asset remains supportive,” Coinshares said of the chart.
While outflows continued in Bitcoin funds, inflows to altcoin funds continued. While there was a net inflow of $3 million in altcoin funds last week, it was seen that the inflows continued for the 8th consecutive week. Entries reached $19 million in the process.
It was stated that investors prefer Ethereum less, and inflows to Cardano, Solana and XRP funds have increased.
Last week, exits were seen in Avalanche along with Ethereum.
As of half of the year, crypto funds saw a net inflow of just under $500 million in a 7-month period.
