CoinShares records record outflows from Ethereum funds

June 29, 2021


CoinShares

With Ethereum cryptocurrency recently falling below the $2,000 mark, there has been a record $50 million in weekly cash outflows from its investment products, according to digital asset management company CoinShares.

Analysts have observed cash outflows from cryptocurrency-based products over the past four weeks.

Analysts have

"Since mid-May, amid prevailing negative sentiment, weekly net outflows have reached $313m, representing 0.8% of total funds under management (AUM)," the company said in a report.

The current scale of outflows is relatively small compared to the same period in 2018. At that time, the AUM of cryptocurrency-based investment products decreased by a total of 4.9%.

CoinShares noted $6 million in inflows into products based on various crypto-assets other than bitcoin and Ethereum. According to analysts, many investors are looking to diversify their investment portfolios.

As a reminder, CoinShares recorded a record outflow of funds from bitcoin funds in May.

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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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