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Crypto investment products see third straight week of outflows

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Outflows for digital asset funds totaled $30 million for the week ended June 29.

Digital asset investment products saw outflows for a third consecutive week, though withdraws slowed in what may be a possible shift in investor sentiment.

Still, the three combined weeks mark the most outflows since Bitcoin exchange-traded-funds were approved in January by the US Securities and Exchange Commission and helped bring in billions of dollars to the ETFs. The Bitcoin ETFs of BlackRock and 2X were the biggest winners and gained $84 million and $70 million, respectively. Grayscale’s ETF had the worst losses and saw $150 million in outflows, continuing its streak of outflows.

Flows by Asset ADVERTISEMENT: CONTINUE READING BELOW Ether investment products experienced their largest outflows last week since August 2022. Loses for its funds increased to $60 million from $58 million the previous week. That brought Ether products to a year-to-date outflow of $25 million.

 

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