Crypto Funds See Outflows For Fourth Week in a Row
According to analysts at CoinShares, fund outflows from crypto-based investment products between April 29 and May 5 amounted to $53.8 million compared to $72.1 million in the previous week.
Over the past four weeks, outflows have reached $200 million, equivalent to 0.6% of assets under management.
Fund volume in crypto funds has seen a 13% decline from the mid-April peak.
Fund outflows from Bitcoin-based products totaled $37.5 million, down from $46 million a week ago, and giving a four-week total of $160 million.
Investors have withdrawn $10.4 million from structures that allow opening short positions in BTC, up from $7.8 million in the previous reporting period.
Ethereum-based funds have enjoyed an inflow of $0.1 million, whereas a week earlier, there was a maximum outflow of $19 million since The Merge update, which took place in September last year.
