Bittime - Crypto asset investment products experienced a significant outflow of funds for three consecutive weeks. According to CoinShares data, last week's outflow reached a total of US$435 million, the largest figure since March 2024. This decline in investor interest was accompanied by weakening trading volume for Exchange Traded Products (ETP), which fell to US$11.8 billion.
Grayscale: Outflow US$440 Million
Grayscale, a well-known crypto asset investment management company, was the main source of last week's outflow with a record of US$440 million. However, this figure is the lowest in the last nine weeks, indicating a potential slowdown in outflows from Grayscale.
Check Today's Crypto Market:
Bitcoin and Ethereum Become Outflow Focus
Interestingly, the outflow only focused on two major crypto assets, namely Bitcoin and Ethereum. Bitcoin experienced an outflow of US$423 million, while Ethereum recorded an outflow of US$38 million. On the other hand, several altcoins actually experienced an inflow of investor funds. Solana, Litecoin, and Chainlink recorded inflows of US$4 million, US$3 million, and US$2.8 million respectively.
Investors Diverting Funds to Other Assets?
The slowdown in the influx of new investors into crypto asset investment products is also in the spotlight. CoinShares noted that inflow from new issuers reached only US$126 million last week, down from US$254 million in the previous week.
Apart from that, outflows also occurred in several countries such as the United States (US$388 million), Germany (US$16 million), and Canada (US$32 million). However, there are countries that actually experienced inflows, namely Switzerland (US$ 5 million) and Brazil (US$ 4 million).
Also Read How to Buy Crypto:
Opportunities in Other Crypto Assets?
The outflow of investor funds from crypto asset investment products is an important note in the development of the crypto industry. This could be triggered by several factors, such as the recent Bitcoin and Ethereum price correction. Even though Bitcoin and Ethereum are experiencing outflows, investor movements seem to be shifting to other crypto assets.
Check Crypto Prices Today:
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Net Outflow Hits Spot Bitcoin ETF
Grayscale Dominates: ETF Flows 500 Million Dollars in a Day
Solana Takes Off with $6.1 Million Inflow, Will Other Altcoins Follow?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.