CoinShares Reports Second Consecutive Week Of Outflows
Join Our Telegram channel to stay up to date on breaking news coverage Digital asset investment products saw outflows for the second consecutive week as investors are feeling cautious about the market following the failure of Bitcoin (BTC) to break above $30,000. In total, digital asset investment products saw $72 million in outflows last week, according to CoinShare’s latest fund flows report . The firm noted that the bearish sentiment could be “a reaction to the likeliness of further interest rate hikes by the US Federal Reserve” whose decision is expected on Wednesday, May 3. Source : CoinShares As usual, the biggest change was seen for Bitcoin-backed funds, which for the last week saw outflows of some $45.5 million. In addition to outflows from Bitcoin funds, funds backed by Solana’s native token SOL also saw minor outflows, while all other altcoin funds saw either inflows or no change from the week before. Notably, short-Bitcoin was...