Against the backdrop of the recent fall in Ethereum below the $2,000 mark, the weekly net outflow from investment products based on it amounted to a record $50 million. The digital asset management firm CoinShares provided the figures.
Analysts note that outflows from crypto-based products have continued over the past four weeks.
“Since mid-May, amid prevailing negative sentiment, weekly net outflows reached $313 million, representing 0.8% of total assets under management (AUM),” the report said.
The scale of the outflow is relatively modest compared with the same period in 2018, when AUM of crypto-based investment products fell by a total of 4.9%.
CoinShares noted inflows of $6 million into products based on a range of crypto assets beyond Bitcoin and Ethereum. Analysts say many investors are seeking to diversify their portfolios.
Earlier in May, CoinShares recorded a record outflow from Bitcoin funds.
Fund Flows Weekly 2 by ForkLog on Scribd
Subscribe to ForkLog news on Telegram: ForkLog Feed — all the news, ForkLog — the most important news, infographics and opinions.