Digital Asset Funds Outflows Amounted to $102 Million Last Week

15.06.2022 08:48
by Gabriel Cross
1 min read

According to a CoinShares report, more than $102 million was pulled out of digital asset funds last week.

After weeks of inflows in digital asset funds, Bitcoin outflows last week were at $57 million, while Ethereum stood at $41 million. Considering the year-to-date outflows, Ethereum is the worst asset, with nearly $386.5 million. Conversely, Bitcoin is still strong, with yearly inflows of almost $450.8 million.

In CoinShares’ report, the flow of funds is attributed to the U.S. Federal Reserve, which is considering a rate hike in order to control the increasing inflation rates. The majority of outflows came from America – $98 million, while Europe is the second with $2 million.

Multi-asset funds experienced outflows of $4.7 million last week. This brings the month-to-date outflows to $3.6 million in total.

ProShares (24.2 million), 21Shares (4.5 million), and Grayscale (0.3 million) reported inflows last week. On the other hand, 3iQ (-72.1 million) and Purpose (-43.4 million) have ended up on the negative side.

Total assets under management (AUM) have shrunk to $1.9 billion, which is a 54% fall since their peak in November last year.

Author

  • Gabriel Cross used to be a bank officer for an international bank for many years. From this point of view, he says the time spent obtaining a degree in economics was a waste of time. A few years back, he decided to quit his job and start trading. He is obsessed with decentralized finance, but he often plays with the stock market, investing with great pleasure into ground-breaking tech solution startups.

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