Crypto funds hit half-billion dollar outflow streak; SOL, ADA and XRP buck trend

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By BitcoinWiki News

Key Takeaways:

– BTC funds saw outflows of $45 million last week, accounting for 85% of total outflows.
– Short BTC funds also experienced outflows of $3.8 million.
– Short BTC funds remain the most popular digital asset investment product month-to-date.
– Other cryptocurrencies, such as Solana, Cardano, and XRP, saw inflows of $0.7 million, $0.4 million, and $0.1 million, respectively.
– Ether saw outflows of $4.8 million despite attractive investment fundamentals and high demand for its staking yield.
– BNB and Polygon products also experienced minor outflows of $0.3 million each.


Crypto investment products at asset managers such as Grayscale, 21Shares, Bitwise, and ProShares had outflows of $53.5 million last week, continuing a five-week streak of consecutive declines. This is a slight improvement from the $59.3 million outflows witnessed in the previous week. However, with outflows occurring in eight out of the last nine weeks, the total outflows have now reached $455 million for the period. The negative sentiment was primarily driven by the U.S. market, which accounted for 77% of the outflows. Other regions, including Germany, Canada, and Sweden, also experienced significant outflows.

In addition to crypto investment products, blockchain equities also saw outflows for the sixth consecutive week, amounting to $9.6 million last week. However, the trading volume for these equities increased by 42% to over $1 billion, compared to the previous week’s $754 million.

Among the crypto investment products, Bitcoin funds were hit the hardest, experiencing outflows of $45 million, accounting for 85% of the total outflows. Despite seeing the largest inflows in a single week since March in the previous week, short bitcoin funds also had outflows of $3.8 million. However, they still remained the most popular digital asset investment product for the month. Ether also had outflows of $4.8 million, despite having attractive investment fundamentals and high demand for its staking yield. BNB and Polygon products also saw minor outflows of $0.3 million each.

However, there were some positive signs in the digital asset space. Solana, Cardano, and XRP funds bucked the trend and saw inflows of $0.7 million, $0.4 million, and $0.1 million, respectively. This indicates potential pockets of optimism in these specific cryptocurrencies.

Overall, the crypto market and blockchain equities have been experiencing outflows for several weeks, with the U.S. market being the main driver. However, there are still some cryptocurrencies that are attracting investor interest and experiencing inflows.

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