Crypto Funds Hit With Record Outflows, But Altcoin Buyers Smell Opportunity
Crypto asset investment products experienced another challenging week as capital outflows continued for a second consecutive period. According to the latest report from CoinShares, a total of $584 million exited crypto-focused investment vehicles, pushing the two-week cumulative outflows to $1.2 billion. This movement coincides with investor uncertainty surrounding the likelihood of interest rate cuts by the US Federal Reserve this year, which James Butterfill, Head of Research at CoinShares, believes is contributing to waning sentiment in the market. Butterfill attributed the investor....
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Bitcoin and altcoins have not had the best week according to reports coming out of the market. The crypto market as a whole has been enjoying months of continuous inflows following hot on the heels of the recent market rally. It has pushed crypto-assets such as bitcoin towards new highs as inflows had hit a new record alongside assets under management. But it seems that this is changing. Coming off the back of what was 17 consecutive weeks of inflows, the market is now seeing movement in the opposite direction. While assets such as ethereum had previously recorded outflows at various....
Ethereum and Cardano continue to dominate inflows to institutional crypto investment products while demand for BTC weakens. Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin.In its Digital Asset Fund Flows Weekly report on Aug. 30, institutional asset manager CoinShares identified overall inflows of $24 million to altcoin-based investment products. The capital flows mark the second consecutive week of inflows to altcoin funds, with investments into altcoin products increasing by 14.3% compared to last....
While institutions are still withdrawing capital from Bitcoin investment products, money is flowing into Ethereum and altcoin products. Institutional crypto products have seen their fifth consecutive week of outflows despite the bullish momentum in the markets. In its August 9 Digital Asset Fund Flows Weekly report, institutional asset manager CoinShares estimated that outflows totaled $26 million for the week. However, the report notes that outflows have shrunk compared to during May and June, when outflows surged to a record $141 million per week.Despite BTC gaining 17.5% over the past....
The Spot Bitcoin ETFs have seen their demand drop since the start of this month, and this was again evident in the considerable outflows recorded on April 26. This poor run has had far-reaching effects on the broader crypto market as Bitcoin’s price has succumbed to unfavorable market conditions. Spot Bitcoin ETFS Record $217 Million Of Outflows Farside Investors revealed in an X (formerly Twitter) post that the Spot Bitcoin ETFs recorded $217 million of net outflows on April 25, one of their largest this month. Grayscale’s Bitcoin Trust (GBTC) accounted for most of these outflows, with....
Outflows from digital asset funds reached $141 million last week, a figure not seen since July 2021. Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move which reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that....