The outflow of funds from cryptocurrency investment products from May 27 to June 2 amounted to $61.5 million compared to $39.3 million a week earlier. This assessment was made by CoinShares analysts.
Over the past seven weeks, investors have reduced investments by $329 million (~1% of AUM).
“Investors took profits and covered short positions. The outflow of funds cannot be perceived as a structural weakening of interest in digital assets”, experts assured.
The volume of trading in crypto-currency instruments remained 60% below the average value for this year. Over the past seven weeks, the figure has fallen by 55%.
The negative dynamics was mainly due to a significant outflow of funds from Tron-based products – investors immediately withdrew $51 million, which is equivalent to 70% of their AUM.
CoinShares explained the situation by closing the offer by one of the providers.
$2.7 million was withdrawn from bitcoin products ($11.5 million a week earlier). From the structures that allow opening shorts on the first cryptocurrency, investors took $6.3 million against $10.9 million in the previous reporting period. Over the past six weeks, the AUM of the latter has decreased by 44%.
Ethereum funds posted a $2.7 million outflow versus $5.9 million a week earlier.
Other altcoins showed positive dynamics, with the exception of Tron.
Recall that JPMorgan indicated $45,000 as a benchmark for the growth of bitcoin.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!