Crypto Investment Products Witness 9th Straight Week of Outflows: CoinShares

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Crypto Investment Products Witness 9th Straight Week of Outflows: CoinShares

Coindesk2023/06/19 13:36

By:Lyllah Ledesma

Altcoins witnessed inflows totalling $2.4 million, according to the report.

Digital asset investment products witnessed the ninth consecutive week of last week, pushing the total to $423 million, according to a report by CoinShares.

Last week's outflows totalled $5.1 million, with the end of the week seeing minor inflows after the news that in the U.S. However, the inflows were not large enough to offset outflows seen earlier on in the week.

After a for altcoins, investors were prompted to add positions, with inflows totalling $2.4 million, CoinShares said.

Altcoin prices have suffered after the U.S. Securities Exchange Commision (SEC) listed a number of altcoins as securities in its lawsuits against Binance and Coinbase (COIN). XRP saw inflows of $1 million last week and Cardano's ADA saw $600,000.

Ether (ETH) saw outflows totalling $5 million.

Edited by Parikshit Mishra.

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