The outflow of funds from crypto funds continued for the 7th week in a row

Crypto market news, investments in cryptocurrencies
Crypto market news, investments in cryptocurrencies

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).

Data: CoinShares.

“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$2.7 million was withdrawn from bitcoin products ($11.5 million a week earlier).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.

Data: CoinShares.

Recall that JPMorgan indicated $45,000 as a benchmark for the growth of bitcoin.

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