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Crypto Investment Funds Have First Week of Outflows in 6 Weeks
Net outflows totaled $30 million.
Digital asset investment funds had net outflows for the first time in six weeks last week, totaling $30 million, according to a report by CoinShares.
Outflows began on April 14, coinciding with bitcoin (BTC) reaching $30,000 for the first time in almost a year – suggesting the most recent sell-off was a result of profit-taking, CoinShares said.
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The total for bitcoin outflows was $53 million last week after a four-week run of inflows.
Ether (ETH) had inflows of $17 million, suggesting investor confidence following the Shanghai network upgrade, according to the report.
Lyllah Ledesma
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds a master's degree from New York University in Business and Economics and an undergraduate degree in Political Science from the University of East Anglia. Lyllah holds bitcoin, ether and small amounts of other crypto assets.
