Onchain investors were more bearish to the Binance liquidity cascade, while crypto ETP traders have largely shrugged off the Friday crash, according to CoinShares.
Cryptocurrency investment products were unable to sustain their two-week inflow streak, with fund flows turning negative last week following crypto’s “Black Friday” market crash.
Crypto exchange-traded products (ETPs) saw $513 million in outflows last week, ending the two-week streak totaling $9.1 billion, CoinShares reported on Monday.
Addressing the total $668 million of outflows following the “Binance liquidity cascade” on Oct. 10, CoinShares head of research James Butterfill said the ETP market saw less panic than the spot market.
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