Inflows to cryptocurrency investment products for the period September 10–16 totaled $7.3 million, versus a $63 million outflow a week earlier, according to CoinShares.
\”The combination of positive and negative flows […] indicates ongoing disengagement among investors\”, according to analysts.
In traditional Bitcoin funds, there was an inflow of $17 million. Previously, there was negative momentum for five consecutive weeks ($93 million in total over this period).
In structures that allow shorting the first cryptocurrency, inflows of $2.6 million were recorded. Their AUM neared a record $169 million.
Outflows from Ethereum funds continued for the fourth straight week ($15.4 million vs $61.6 million a week earlier).
No significant changes were observed in products based on other altcoins.
Crypto-asset basket funds attracted $1 million. Year-to-date inflows into these products ($224.1 million) were almost equal to inflows to Bitcoin funds ($259.2 million).
On September 19, the price of the leading cryptocurrency failed to hold above $19,000.
Earlier, former Cramer & Co. hedge fund manager and host of Mad Money on CNBC Jim Cramer said that tighter monetary policy by the Fed would lead to ‘washout’ of speculative assets such as cryptocurrencies.
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