With insights from “Digital Asset Fund Flows Report,” a weekly report by CoinShares, a European cryptocurrency investment firm, published on June 12, 2023, mentioned that last week cryptocurrency products saw an outflow amounting to $88 million, stated Cointelegraph.
Sources revealed that last week Ether (ETH $1,749) products saw about $36 million of outflows, making it the largest weekly outflow since the Ethereum Merge in September 2022, Cointelegraph added.
“Interestingly, on aggregate, altcoins have seen inflows year-to-date (except Tron), in stark contrast to Bitcoin and Ethereum,” James Butterfill, report author, CoinShares, explained.
According to Cointelegraph, 87% of the outflows took place from a single provider and is seen as a regional impact. It is believed that North America witnessed a greater outflow than Switzerland as it saw an inflow of $9.2 million. Supposedly, Germany experienced outflows of $9.4 million, Cointelegraph concluded.
(With insights from Cointelegraph)
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