Crypto Investment Funds Have First Week of Outflows in 6 Weeks

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(CoinShares)

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Digital asset investment funds had net outflows for the first time in six weeks last week, totaling $30 million, according to a report by CoinShares.

Outflows began on April 14, coinciding with bitcoin (BTC) reaching $30,000 for the first time in almost a year – suggesting the most recent sell-off was a result of profit-taking, CoinShares said.

The total for bitcoin outflows was $53 million last week after a four-week run of inflows.

Ether (ETH) had inflows of $17 million, suggesting investor confidence following the Shanghai network upgrade, according to the report.

Edited by Sheldon Reback.

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Source coindesk.com