CoinShares, Europe’s largest digital investment company, published its weekly crypto fund report. Funds that closed 7 consecutive weeks in a positive way completed last week with a minus of $942 million.

Big sell-off from Grayscale

Grayscale, which made huge sales almost every day after the approval of spot Bitcoin ETFs in the US, made some of these big sell-off last week. The company’s weekly sales reached $2 billion.

Exit in Short Bitcoin and Solana: Surprise of the week from Polkadot

Of the $942 million outflow, $ 900 million was in Bitcoin funds. There was a net outflow of $35 million from Ethereum funds. There were sales of $5.6 million in Solana and $3.7 million in Cardano. While the $ 3.7 million sale in Short Bitcoin funds attracted attention, the net $2 million entering Litecoin funds did not go unnoticed. A net investment of $5 million in Polkadot funds was the surprise of the week.

US spot Bitcoin ETFs closed negative every day for the first time

The USA took the lead in countries with outflows. Net $860 million came out of ETFs in the US. In addition to Grayscale’s $2 billion outflow, the $828 million investment in BlackRock was the “saving” factor of the week in this sense. On the other hand, US Bitcoin spot ETFs closed negative for 5 consecutive days for the first time since 11 January, when they started trading.

Swedish ($ 37 m), Swiss ($ 25 m) and German ($ 4 m) funds also closed the week in the negative.

Net investments of $8.5m in Brazil and Canada also stood out.