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It's Big & Big #alert About Cryptofunds $435 Million !!!
Crypto Funds Extend Outflow Streak for 3rd Week With $435M
Inflows to crypto funds continue to dry up as interest wanes.
Crypto Funds Bleed $435M
Last week, investors withdrew $435 million from crypto investment funds, according to CoinShares’ most recent crypto fund flows report published on Monday, April 29.
The net outflow continues the current trend for a third week and marks the second largest outflow since the record $1 billion in a week in March 2024.
Last week’s net outflows came as spot Bitcoin ETFs, particularly in the U.S., failed to keep up with outflows from Grayscale’s converted ETF despite the latter hitting a nine-week low.
The newly issued ETFs had only recorded inflows of about $126 million during the week, dwarfed by Grayscale’s $440 million outflows.
Beyond the U.S., Germany and Canada also recorded outflows of $16 million and $32 million, respectively.
With Grayscale leading outflows, Bitcoin-backed funds suffered the most, with investors withdrawing $423 million. Meanwhile, Ethereum-linked funds also saw $38 million in net outflows.
