According to a report shared by digital asset investment manager CoinShares, 11 weeks of positive cash flow in cryptocurrency funds ended last week. After the long streak, investment products saw outflows of $16 million, while trading volume remained above average at $3.6 billion.
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Positive cash flow to altcoins
In the cryptocurrency-based list, outflows of $32.8 million from Bitcoin (BTC) funds and $4.3 million from Ether (ETH) in one week were noteworthy, while investors also preferred Solana (SOL), Ripple (XRP) and Cardano (ADA).
According to the report, institutional investors moved a net $10.6 million into SOL funds last week.
CoinShares reported $21 million inflows into its altcoin investment products despite the sell-off in BTC.
According to the country-by-country list, there were outflows of $18.9 million in the US, $9.7 million in Germany and $4 million in Sweden, while positive cash flows were notable in Brazil, Switzerland and Canada.
Scary end of 11 weeks in cryptocurrency funds!
Scary end of 11 weeks in cryptocurrency funds!
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