CoinShares records record decline in bitcoin funds’ asset values

June 8, 2021

CoinShares records record decline in bitcoin funds' asset values

Outflows from bitcoin-based investment products totaled a record $141 million between May 28 and June 4, according to digital asset management company CoinShares.

The value is equivalent to 8.3% of net inflows to such funds this year.

Including investment products based on other cryptocurrencies, the outflow of funds in the last reporting week amounted to $94 million.

"The 62% drop in trading volumes for bitcoin-based products relative to April is indicative of investor caution. This was also evident on credible cryptocurrency exchanges, where trading activity has halved," CoinShares reported.

Fund inflows into Ethereum funds totaled $33m, up more than $1bn YTD. Funds in XRP-based products increased by $7m and Cardano-based products increased by $4.5m.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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