Crypto investment products in trouble? $305 mln outflows raise alarm

📆 3/09/2024 7:22 a. m.
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CoinShares reports $305 million outflows, hinting at significant shifts in investor sentiment and market dynamics.

cap rising by 2.79% over the past 24 hours and most coins gaining over 2%, concerns loomed as weekly charts reveal declines exceeded 5%.This reversal comes after net inflows of $543 million the previous week, impacting major asset managers like Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares.“The negative sentiment was focussed on Bitcoin, seeing US$319m in outflows. Short bitcoin investment products saw a second consecutive week of inflows totalling US$4.4m.

Butterfill explained that the outflows were triggered by a pervasive negative sentiment across multiple regions and providers.

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