Investors are withdrawing money from Bitcoin (BTC) and Ethereum (ETH) funds. This is because negative sentiment (market sentiment) cannot be dispelled.
According to a report released by crypto asset management company CoinShares on the 28th, withdrawal of funds (outflow) from crypto asset funds will be $ 44 million (about 4.9 billion yen) in the week until June 25. ), And the outflow of funds was the fourth consecutive week.
In particular, the withdrawal of funds from the Ethereum fund reached a record high of $ 50 million. This move is reversed from the trend up to 2021. Ethereum-related investment products have raised $ 934 million as investors diversified their money from Bitcoin.
“Since mid-May, withdrawals from crypto funds have reached $ 313 million,” said CoinShares, which represents 0.8% of the balance of assets under management (AUM).
But in relative terms, last week’s withdrawal was “still small compared to early 2018, when it reached 4.9% of AUM.”
Multi-asset (multiple crypto assets) funds had an inflow of $ 6 million last week, indicating that investors are looking for investments other than Bitcoin and Ethereum.
｜ Translation: coindesk JAPAN
｜ Editing: Takayuki Masuda
｜ Image: CoinShares
｜ Original: Ethereum Investment Funds Saw Record Outflows of $ 50M