Crypto investment funds record drains in the 9th week
Crypto investment funds record drains in the 9th week
According to the asset manager Coinhares, large digital asset funds recorded the ninth week in a row.
On June 19th, Coinhares View of institutional investors is still dark. This ninth week with drains increases the increase, which now amounts to a total of $ 423 million.
to be positive is that the drains this week had decreased from $ 88 million to only $ 5.1 million.
The drains of crypto funds continue
The continued drains occurred despite some rare positive news for the industry last week in the Spot-Bitcoin ETF application from BlackRock.
"At the end of the week there were minor tributaries after it became known that one of the world's largest asset managers made an application for Bitcoin ETP in the US
BTC funds recorded minor drains of only $ 500,000, with the majority of funds based on Ethereum, lost $ 5 million.
The company pointed out that the Altcoin slump last week led to investors investing $ 2.4 million in Altcoin funds.
"The crash of altcoin prices in the previous week caused investors to increase their positions, whereby the inflows were $ 2.4 million."
ripple (XRP), Cardano (ADA) and Polygon (Matic) focus and recorded tributaries of $ 1 million, $ 6,000,000 or $ 200,000
The United States and Germany recorded minor tributaries of just over $ 6 million, while most of the drains came from the rest of Europe.
The report also found that despite improved regulatory conditions in Hong Kong, we "did not see any measurable tributaries in ETPs a year". In addition, the total assets managed at $ 39 million is still low, it said.
market prospects
The cryptoma markets easily increased during the Asian trade session on Tuesday morning. As a result, the total capitalization rose by 1.2 % to $ 1.2 % at the time of writing. The markets have risen by 5.4 % to just over a trillion since the break in last week.
According to Coingecko, Bitcoin has increased by 1.8 % throughout the day and was traded at $ 26,907 at the time of writing this article. The asset has increased by 3.6 % since that time last week, but remains within its span because volume and volatility remain low. However, BTC's market dominance has increased to a 2-year high.
Ethereum prices remain unchanged that day and remain at $ 1,736, the same level as last week at this time.
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