3 hours ago
Crypto concern products person been seeing play outflows for 4 consecutive weeks now, with $876 cardinal withdrawn past week, bringing the four-week full to $4.75 billion.
The sustained withdrawals and an ongoing cryptocurrency marketplace drawdown person erased gains made since November 2024 aft Donald Trump won the U.S. Presidential elections, pushing full assets nether absorption (AUM) down by $39 cardinal to $142 billion.
Investor sentiment successful the U.S. is peculiarly bearish, with $922 cardinal successful outflows, portion investors successful Europe and Canada brought successful humble inflows, information from CoinShare’s Digital Asset Fund Flows study shows.
Investment products focused connected bitcoin saw $756 cardinal successful outflows, portion products shorting the cryptocurrency saw $19.8 cardinal successful withdrawals, the largest since December 2024 according to the report.
Ethereum-focused products endured $89 cardinal outflows, portion products focusing connected solana (SOL), XRP, and Sui (SUI) saw inflows of $16.4 million, $5.6 million, and $2.7 cardinal respectively.
Despite the illness successful assets nether absorption for cryptocurrency concern products, cryptocurrency prices stay supra the levels seen earlier Trump was elected. Bitcoin is up much than 21% since Nov. 5, portion the broader CoinDesk 20 Index is up astir 30% implicit the aforesaid period.
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