Weekly Inflows into Crypto Funds Reach $206M: Report

According to the latest report from CoinShares, there was a decrease in crypto investments through asset management firms, including Ark Invest, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares.

This is the second consecutive week of outflows, totaling $206 million globally. CoinShares’ Head of Research, James Butterfill, stated that this decline in appetite from ETP/ETF investors could be due to expectations that the Federal Reserve will maintain high interest rates for a longer period.

Additionally, the trading volume for global exchange-traded products decreased to $18 billion, accounting for only 28% of total bitcoin trading volume compared to 55% a month ago.

This decline in trading volume could be attributed to the daily bitcoin exchange-traded fund volume reaching nearly $10 billion at its peak. The US spot Bitcoin ETFs also saw significant outflows, with a total of $204.3 million leaving the funds last week, following the $82.5 million outflows in the previous week.