Global crypto investment products’ weekly net outflow streak exceeds $1 billion | Headlines | News | CoinMarketCap
05/07/2024 20:14
Global crypto investment products at asset managers such as Ark Invest, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered a …
Global crypto investment products at asset managers such as Ark Invest, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered a fourth-consecutive week of net outflows — totaling $251 million last week — according to CoinShares' latest report.
Adding to three prior weeks of net outflows, the streak has now surpassed $1 billion, primarily generated by U.S.-based funds, which saw $504 million in net outflows last week alone — overshadowing some $307 million worth of net inflows into the newly launched Hong Kong spot bitcoin and ether exchange-traded funds.
Switzerland, Canada and Germany-based funds also contributed to last week’s net outflows, losing $9.8 million, $9.6 million and $7.3 million, respectively.