According to a report released by CoinShares on the 15th, the crypto asset (virtual currency) fund saw net outflows for the fourth straight week, with $54 million (approximately 7.3 billion yen) in the seven days to May 14. converted to 135 yen to the dollar) leaked out.
The net outflow coincided with a significant drop in cryptocurrency prices last week, with Bitcoin (BTC) falling below $26,000 on Friday from a high above $28,000 on Friday.
“The outflows are widespread in terms of geography, suggesting that negative sentiment is not concentrated among a few investors,” CoinShares said.
Bitcoin funds accounted for $38 million of the $54 million net outflow. Bitcoin outflows in the last four weeks have reached $160 million, representing 80% of all outflows during this period.
Multi-asset funds also saw net outflows of $7 million, while altcoin funds such as Cardano (ADA), Tron (TRX) and Sandbox (SAND) saw net inflows. CoinShares said it showed “investors are becoming more adventurous and selective.”
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinShares
｜Original: Crypto Investment Funds See Outflows for Fourth Consecutive Week
The post Crypto asset fund, net outflow for 4 consecutive weeks | coindesk JAPAN | Coindesk Japan appeared first on Our Bitcoin News.