Concerns over rising inflation and flat spot Bitcoin ETF inflows could be factors in the $435 million outflow from crypto investment funds last week.
Reporting from CoinShares highlighted a weekly $435 million outflow from cryptocurrency investment products in the week ending April 26. Crypto exchange-traded products (ETPs) have now experienced outflows for the third consecutive week as Bitcoin price remains rangebound in the low $60,000 range.
Bitcoin (BTC) funds led outflows, with $423 million exiting the market after the halving event, while Ether (ETH) investment products also experienced withdrawals of $38 million, marking their seventh consecutive week of negative flow. Solana (SOL) and Litecoin (LTC) ETPs experienced deposits, posting net inflows of $4.1 million and $3.1 million, respectively.
According to CoinShares, the negative outflows are likely due to “deceleration in inflows from new issuers,” which saw only $126 million in inflows last week, compared to $254 million the week prior.