News Formal

Digital asset market shrinks as fund outflows reach $200M: CoinShares

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Negative sentiment surrounding Bitcoin and crypto led to another week of large outflows from digital asset investment products, according to CoinShares.

On May 15, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” which

that digital asset investment products experienced another week of consecutive outflows, with a total of $54 million exiting the market. This brings “the total outflow to US$200m, representing 0.6% of total assets under management ,” CoinShares reported.According to the report, Bitcoin funds witnessed outflows of $38 million. Over the past four weeks, total BTC outflows amounted to $160 million, accounting for 80% of all outflows.

The report also noted that multi-asset investments experienced outflows of $7 million in the past week. However, there was a noteworthy development as inflows were observed across eight different altcoin assets, implying that investors are becoming “more adventurous and selective” in their investment choices.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's What Might Push Cryptocurrency Market Into New Bull RunFinally, the crypto market is entering a new phase when funds are returning to the industry rather than flowing out of it
Source: Utoday_en - 🏆 295. / 63 Read more »