Crypto-Based Investment Products Witness Record-Breaking Outflow


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Vladislav Sopov

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Investors in crypto-based ETFs are leaving Bitcoin-based products while some ETFs registered inflows

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Investors in digital asset funds are bearish on Bitcoin (BTC): as per Coinshares, some of them rebalanced their portfolios in favor of major altcoins.

Bitcoin (BTC) investors are switching to multi-crypto products

As per CoinShares’ Digital Asset Fund Flows Weekly Report 81cryptocurrency-based integral investment products (ETFs) are witnessing massive outflows of capital.

In the last seven days, net withdrawals exceeded $141 million. Purpose ETFs witnessed whopping $150 million outflows while the majority of other funds remained almost untouched.

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This is the second largest weekly outflow in the turbulent year of 2022. The net equivalent of money locked in crypto-based funds dropped to $38 billion, which is the lowest point since July 2021.

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At the same time, some instruments of this segment closed last week with positive results: multi-crypto products added $9.7 million to their balances.

Crypto Fear and Greed index plummeting again

Among single-asset altcoin-centric products, Cardano (ADA) and Polkadot (DOT) based funds are leaders: they managed to attract $1 million each. Funds on SOL, LTC and XRP also increased their AUM.

Meanwhile, despite Bitcoin (BTC) changing hands at $30,500, or almost 2.5% up in 24 hours, its “Fear and Greed” index by Alternative.me returned to 10/100.

This level means “Extreme Fear”; prior to the drop, it was surging for five days in a row.




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