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Bitcoin outflows near $7M in ‘quietest’ crypto trading week for nine months

Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for […]

By Michelle Lim

From the Forkast crypto archive

Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report.

Fast facts

  • Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for the week, CoinShares reported.
  • But other assets saw inflows. Multi-asset investment products took the lead, with US$1.2 million of inflows, followed by Ethereum (US$0.8 million), Cardano (US$0.6 million) and Binance (US$0.4 million).
  • “In recent weeks there has been a regional divide in Bitcoin inflows in North American providers seeing consistent inflows while their European counterparts have continued to see outflows,” wrote James Butterfill, CoinShares’ investment strategist.