Crypto Funds See $147 Million Outflow After Three Weeks: What’s Next?
Global crypto investment products have experienced a significant shift, as $147 million exited the funds last week, ending an almost $2 billion three-week net inflow streak, according to a recent report by CoinShares.
Source: Coin Shares
Asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares witnessed the reversal in inflows, suggesting a cautious approach among investors amid changing economic conditions. The outflows were led predominantly by Bitcoin-based funds, which saw net outflows of $159 million.
“Higher than expected economic data last week, reducing the probabilities for significant rate cuts are the likely reason for the weaker sentiment amongst investors,” CoinShares Head of Research…
