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Digital Asset Fund Inflows Fall to Lowest Level Since October
Bitcoin prices fell 14% during the seven days through April 23, while ether rose 18%..
Inflows to digital asset products declined to $1.3 million during the week ending April 23, down from $233 million the prior week, according to a Monday report from CoinShares, a digital asset investment firm.
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The latest figure marks the lowest level of weekly inflows since October 2020.
- “The low inflows overall mask varied flows among digital assets. Outflows were primarily focused on bitcoin (BTC) with $21 million, being the largest weekly outflow on record," according to CoinShares.
- However, Ethereum products saw inflows of $34 million last week and $792 million for the year to date.
- Bitcoin prices fell 14% during the seven days through April 23, while ether (ETH) rose 18%.
- Trading volumes among investment products remained at a low of 5% of total bitcoin volumes last week, according to CoinShares.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
