Crypto Funds Saw $4 Mln Net Capital Outflow Last Week.

Crypto Funds Saw $4 Mln Net Capital Outflow Last Week.

2021-07-12 | Big Bob

Crypto Funds Saw $4 Mln Net Capital Outflow Last Week.

Crypto funds saw a $4 Mln net capital outflow for the week ending 9th July, reversing from the prior week’s net capital inflow of $63 Mln, as a trading volume in Bitcoin [BTC], the leading cryptocurrency, dropped to $1.58 Bln, lowest levels recorded since October 2020. For the week ended 9th July, bitcoin-focused funds recorded a $7 Mln capital outflow, consistent with a report by digital asset manager CoinShares. The cryptocurrency’s price has been consolidating within a narrow range of $32k to $35k. For recent weeks, North American funds dedicated to bitcoin have seen constant capital inflows while their European counterparts kept seeing outflows, which indicates “a geographic divergence in sentiment at the present,” consistent with CoinShares. Since the beginning of the year, multi-asset investments have seen a $362 Mln net capital inflow in total, representing 16.5% of assets under the management of such funds. Crypto funds dedicated to bitcoin have witnessed $4.184 Bln of net inflows, representing 15.6% of AUM [Assets under Management], while Ethereum [ETH] has attracted $961 Mln, or 9.9%.
“While the inflows [in multi-asset investment funds] remain relatively small as compared to Bitcoin [BTC] and Ethererum [ETH], the info does imply that investors are increasingly looking to diversify their digital asset holdings,” outlined CoinShares.

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