$21 million out of crypto funds: Investments in altcoins surge

CoinShares, the digital asset investment company, published its weekly report. There were outflows of $ 20.9 million from crypto funds, while $ 19.4 million of the outflows were from Bitcoin. It is noteworthy that there are inflows to altcoin funds other than Ethereum.

$21 million out of crypto funds: Investments in altcoins surge

The CoinShares report on digital asset investment products for the past week has been published. A total of $20.9 million in outflows from these mutual funds, of which $19.4 million were Bitcoin funds.

Outflows in “Short Bitcoin” funds reached the 14th consecutive week. The weekly outflow value in these funds was 3.1 million dollars.

While there was an outflow of 1.9 million dollars from Ethereum funds, investment in other altcoins did not go unnoticed. Solana and Cardano funds received 600 thousand dollars each, while XRP funds received 500 thousand dollars. The investment amount in Litecoin, which is very close to the halving time, was 400 thousand dollars.

The countries with the most fund sales were Canada ($11.3 million) and the US ($11.1 million). Germany-based funds ended the week with a plus of 5 million dollars.

While the total crypto fund value is 36.5 billion dollars, 24.4 billion dollars of this is within Grayscale. Most of these funds are in Bitcoin funds with $ 24 billion.

On the other hand, the decline in trading volume also attracted attention. CoinShares reported that the average weekly trading volume this year is $ 1.5 billion, but this figure was $ 915 million last week.

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