Crypto investment products saw outflows for a third consecutive week

Outflows were greatest in the US, at $388 million during the week. Overall, for the year, inflows are positive a record $13.6 billion.


Trading volumes in ETPs fell to $11.8 billion from $18 billion in the week prior, while the price of Bitcoin fell 6%, according to the report. As of 1:57 p.m. in New York, Bitcoin was down about 1% to $63,060.

The outflows were heavily focused on Bitcoin and Ethereum, which saw a $423 million and $38 million respectively. Whereas, altcoins and multicoin investments saw $7 million in inflows. Other “regular favorites” like Solana, Litecoin and Chainlink saw inflows of $4 million, $3 million and $2.8 million, respectively.

Source: Forex-Markets-Economic Times