Some $97 million flowed out of digital asset funds in the week through April 15 as investors adjusted to a hawkish Fed discussion on shrinking the central bank's balance sheet AngeliqueChen07 reports
Across the industry, crypto funds had $97 million in net outflows in the seven days through Apr. 15, according to CoinShares. Of that, 88% came from European funds in a shift from the prior week when the majority of the $134 million in outflows came from U.S. funds. The $134 million in outflows was the most since January.
So-called"short" bitcoin investment products – such as exchange-traded products that provide an inverse to the cryptocurrency's performance – saw $1.8 million in outflows last week after a few weeks of inflows. Bitcoin , the largest cryptocurrency by market capitalization, has traded at around $40,000 since early April. It went up to over $41,000 on Apr. 13, but fell back to $40,000 later in the week.
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