Crypto funds return to outflows amid market crash, bitcoin ETF sentiment

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

South Africa News News

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

Crypto investment products at asset managers such as Grayscale, Bitwise and ProShares returned to outflows of $55 million last week.

Bitcoin led with outflows totaling $42 million, a sharp reversal from theinflows observed the previous week. Short bitcoin investment products continued a near 17th consecutive week of outflows.

Altcoins weren't spared either. Ether investment products saw outflows of $9 million, while Polygon, Litecoin and Polkadot funds recorded outflows of $0.9 million, $0.6 million and $0.5 million, respectively. However, XRP products bucked the trend, adding $1.2 million to a 17-week streak of inflows, totaling $12 million year-to-date.

The outflows were predominantly concentrated in Canada and Germany . In contrast, Switzerland experienced minor inflows totaling $3.5 million. U.S.-based crypto funds saw outflows of $5.5 million. The negative market sentiment also impacted blockchain equities, which saw outflows of $6 million over the past week.shows the broader crypto spot and derivatives volume spiked on Thursday due to long liquidations during the crash. But volumes have now plummeted again.

 

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

 /  🏆 464. in ZA

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.

Jeremy Grantham’s GMO plans its first ETF, a fund that will target quality stocksLegendary investor Jeremy Grantham’s GMO is planning to offer an exchange-traded fund that will invest in U.S. quality stocks, the firm’s first ETF as it...
Source: MarketWatch - 🏆 3. / 97 Read more »