Investors have continued to withdraw money from crypto-based funds over the past week, with ether-based instruments joining Bitcoin funds this time. This is stated in a new report from CoinShares.
The net outflow of funds for the week ending June 25 amounted to $ 44 million. The negative dynamics has been observed for the fourth week in a row. $ 50 million was taken off the air, which was the largest churn since 2015. The trend turned sharply along with the prices of cryptocurrencies in May – before that, since the beginning of the year, crypto funds managed to attract several billion dollars. The net inflow to the Ether funds during the same period remains at the level of $ 943 million.
“Since mid-May, negative sentiments have been prevailing. The net outflow from this moment is $ 313 million, ”write CoinShares, noting that this amount is equivalent to 0.8% of all assets under the management of crypto funds.
The analysts add that churns remain moderate relative to 2018. Then, during the market decline, investors managed to withdraw 4.9% of the total assets.
Multi-asset funds continued to attract investments, raising a total of $ 6 million. This, according to CoinShares, suggests that investors are not completely abandoning cryptocurrencies, but in the current environment are seeking diversification, not limited to bitcoin and ether. The outflow of funds from bitcoin continued to decline and amounted to $ 1.3 million. For bitcoin funds, negative dynamics has been observed for the seventh week in a row.
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