Crypto asset fund, net outflow for 9 consecutive weeks: CoinShares | CoinDesk JAPAN | CoinDesk Japan

Crypto assets (virtual currency) funds saw net outflows last week for the ninth straight week, with a total outflow of $423 million.

Last week’s net outflow was $5.1 million, with a modest inflow following news that the world’s largest asset manager, BlackRock, has applied for a Bitcoin (BTC) spot ETF (exchange-traded fund). was seen, but not enough to offset the outflow earlier in the week. However, the net outflow was smaller.

After weeks of volatility, altcoins saw more than $2.4 million in inflows as investors added positions, according to CoinShares.

The US Securities and Exchange Commission (SEC) sued cryptocurrency exchanges Binance and Coinbase, labeling many altcoins as securities, causing altcoin prices to drop.

XRP (XRP) fund with $1 million net inflow, Cardano (ADA) with $600,000 net inflow. Meanwhile, Ethereum (ETH) posted a net outflow of $5 million.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinShares
｜Original: Crypto Investment Products Witness 9th Straight Week of Outflows: CoinShares