Share this article
BTC
$94,470.75
+
1.73%ETH
$1,775.44
+
1.20%USDT
$1.0004
+
0.01%XRP
$2.1933
+
0.50%BNB
$604.25
+
1.18%SOL
$153.46
+
3.23%USDC
$0.9999
+
0.00%DOGE
$0.1810
+
3.79%ADA
$0.7134
+
2.38%TRX
$0.2436
-
0.80%SUI
$3.6493
+
20.19%LINK
$14.98
+
3.12%AVAX
$22.33
+
1.48%XLM
$0.2830
+
5.63%LEO
$9.1319
-
0.99%HBAR
$0.1980
+
8.82%SHIB
$0.0₄1400
+
5.52%TON
$3.2044
+
2.64%BCH
$367.87
+
5.54%LTC
$85.83
+
5.23%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Investment Products See 3rd Week of Outflows
Monday's bitcoin rally could encourage digital-asset inflows because many investors have been on the sidelines since the sell-off in May.
Investors pulled money out of digital-asset funds as bitcoin dipped below $30,000 last week, according to a report by CoinShares. Outflows coincided with negative sentiment that preceded a near-24% price jump in bitcoin over the past seven days.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Monday's crypto price rally – bitcoin jumped above $38,000 – could encourage digital-asset inflows because many investors have been on the sidelines since the sell-off in May.
- Overall, digital-asset products saw outflows for the third consecutive week, totaling $28 million in the seven days through July 23.
- “Bitcoin saw a majority of the outflows, which totaled $24 million, the largest outflows since mid-June,” according to CoinShares. Ethereum products saw outflows of $7.3 million.
- However, net flows year-to-date remain positive with inflows of $4.1 billion, albeit well off the cumulative peak of $4.7 billion in early May.
- Multi-asset investment products saw another week of inflows totaling $3.1 million, which suggests investors are diversifying their cryptocurrency exposure.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
