Outflows From Crypto Funds Hit $455M: Report

Reading Time: < 1 minute

During the period of September 9 to 15, a total of $54 million were withdrawn from cryptocurrency investment products, a decrease from the previous week where $59 million were withdrawn, as reported by analysts at CoinShares.

This is the fifth consecutive week of negative trend. Year to date, inflows of $51 million have been maintained, indicating a steady trend.

Trading volumes also saw an increase of 42%, reaching almost $1 billion. There was a significant outflow of $45 million from Bitcoin funds, compared to the previous reporting period where $69 million were withdrawn.

Investors also withdrew $3.8 million from structures that allow shorting Bitcoin, after investing a record $15 million in the week before.

Altcoin-based products experienced mixed dynamics, with outflows of $4.8 million from Ethereum funds, and $0.3 million from both BNB and Polygon.

However, products based on Solana, Cardano, and XRP saw inflows of $0.7 million, $0.43 million, and $0.13 million respectively.