Bitcoin funds see weekly outflows of $111M, most since March: CoinShares
Solana bucked the trend, with its $9.5 million in inflows taking the top spot over the past week.
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Solana bucked the trend, with its $9.5 million in inflows taking the top spot over the past week.
Proprietary trading activities contributed heavily to the revenue increase.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
However, Ethereum saw outflows in the amount of $2 million and remains the asset with the most outflows year-to-date.
Blockchain equities inflows reached a recent high of $15 million as well. However, total trading volume dropped.
Fed Chair Jerome Powell announced a pause in interest rates, but Bitcoin options data still warns that a BTC price drop to $25,000 is possible.
Fear and trepidation spread across the crypto market last week following the high-profile collapses of Silvergate Bank and Silicon Valley Bank.
Institutional investors are feeling the heat as the SEC targets all aspects of the crypto industry in the United States.
CoinShares’ stock was previously listed on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized companies.
The aftermath of FTX’s collapse has soured crypto investor sentiment with "record” inflows into short-investment products last week, said CoinShares.