Crypto Investment Funds Have First Week of Outflows in 6 Weeks
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Digital asset investment funds had net outflows for the first time in six weeks last week, totaling $30 million, according to a report by CoinShares.
Outflows began on April 14, coinciding with bitcoin (BTC) reaching $30,000 for the first time in almost a year – suggesting the most recent sell-off was a result of profit-taking, CoinShares said.
The total for bitcoin outflows was $53 million last week after a four-week run of inflows.
Ether (ETH) had inflows of $17 million, suggesting investor confidence following the Shanghai network upgrade, according to the report.
Edited by Sheldon Reback.
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
