The seventh consecutive week of outflows, totaling $329 million, represented 1% of total assets under management . According to Coinshares, this trend was very similar to the spate of outflows observed at the start of 2022.totaling $51 million and representing about 70% of the total AuM. On the other hand, the largest and the second-largest asset by market cap, BTC andHowever, what’s interesting to note is that the short Bitcoin fund, which bets on the decline of Bitcoin, recorded $6.
Coinshares added that the outflows came amidst a lull in trading activity with volume across the broader crypto market remaining 60% below the year’s average. Additional data from CoinMarketCap lent credence to this observation. Daily volume was stuck in the $20 billion- $30 billion range throughout May as the market entered a period of low volatility.The nominal value of BTC’s Open Interest fell marginally over the last week to $11.91 billion, as per Coinglass.
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