Crypto assets (virtual currency) funds had a net outflow of $88 million last week. 8 consecutive weeks of net outflows (Coinshares data).
Week 8 outflows totaled $417 million, coinciding with a period of significant market decline after a strong start to the year. Bitcoin (BTC) closed near $26,000 last week after trading near $31,000 in mid-April.
By crypto-asset, Bitcoin saw a net outflow of $52 million, with an eight-week outflow of $254 million. Ethereum (ETH) saw a net outflow of $36 million, the largest outflow since last year’s merge.
Litecoin (LTC), XRP (XRP), Solana (SOL), etc. saw a small net inflow.
“This is related to monetary policy, and we believe investors are cautious now with no clear end to rate hikes in sight,” CoinShares said. The US Securities and Exchange Commission’s (SEC) lawsuit against Binance and Coinbase last week, along with regulatory policy, have undoubtedly triggered the market downturn.
Regulatory policy may have less impact this week as many important macro data are released this week, including US inflation on the 13th and the Federal Open Market Committee (FOMC) interest rate announcement on the 14th. do not have.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinShares
｜Original: Crypto Investment Funds See 8th Consecutive Week of Outflows
