On June 19, 2023, CoinShares, a European cryptocurrency investment firm, introduced its “Digital Asset Fund Flows Report,” mentioning that last week the cryptocurrency investment products saw an outflow of about $5.1 million, stated Cointelegraph. It is expected that the outflows continued for nine-week, eventually amounting to a total of about $423 million.
“Despite improving regulatory conditions in Hong Kong, we have not seen any measurable inflows into ETPs year-to-date while total assets under management (AuM) remain low at $39 million,” James Butterfill, report author, CoinShares explained.
With insights from reports by CoinShares, the downfall in the market value of altcoin which took place last week made the investors increase their positions. Supposedly, the total inflows reached about $2.4 million, Cointelegraph added.
It is expected that both Tron (TRX $0.0693) and Avalanche (AVAX $11.48) experienced outflow amounting to about $0.4 million each. Furthermore,“Blockchain equities saw the largest outflows since FTX, totalling $12.3m,” CoinShares told Cointelegraph.
(With insights from Cointelegraph)