Coinshares reported witnessing $435 million outflows from Bitcoin and crypto investment products last week.
As investors eagerly await a major upswing in BTC and altcoins, CoinShares has released its weekly crypto report.
Stating that it witnessed $435 million worth of outflows from crypto investment products last week, Coinshares noted that this marks the third consecutive week of outflows.
Looking at the individual crypto funds, it was observed that the vast majority of outflows were from Bitcoin.
While BTC saw $423 million in outflows, the largest altcoin Ethereum (ETH) also witnessed some outflows, worth $38.4 million.
There was an inflow worth $1.3 million into the Bitcoin Short fund, a fund that is set up with the notion that the price of BTC will decrease.
Looking at other altcoins, Litecoin (LTC) saw inflows of $3.1 million, Polkadot (DOT) added $0.5 million, Solana (SOL) drew in $4.0 million and Chainlink (LINK) gained $2.8 million.
In terms of regional funds, it was noted that the United States took the lead with $488 million in outflows.
Following the US, Canada was the second biggest outflow at $32.1 million.
