CRYPTO ETFS SUFFER $528 MILLION OUTFLOWS AS DIGITAL ASSET LOSSES INCREASE
- Crypto investment products record net outflows for first time in four weeks after shedding $528 million.
- Bitcoin was hit the hardest, seeing $400 million in outflows last week.
- Ethereum ETFs saw $146 million in net outflows as wider market bearish pressure may be hampering its performance.
Crypto ETFs weren't spared from the bearish pressure facing the capital markets after experiencing $528 million in net outflows last week, according to CoinShares digital asset weekly report. Last week's outflows ended their four-week streak of net inflows.
Crypto investment products record outflows as crypto market plunges
Digital asset investment products halted their inflow streak last week following increased outflows across the investment market. They recorded net outflows of $528 million, ending a four-week run of steady inflows through July.
The net outflows were characterized by increased bearish sentiment due to a general market downturn triggered by Genesis Trading and continued Mt. Gox creditor repayment. Geographically, the US had the highest outflows, totaling $531 million. Hong Kong, Germany and Sweden also saw outflows of $27 million, $11 million and $6 million, respectively.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.