According to a report published by analyst firm CoinShares, fund outflows from crypto-based investment products between February 11 and 17 amounted to a high of $31.7 million since December 2022, up from $6.8 million recorded during the previous week.
According to the company's analysts, the negative trend has formed despite the prevailing market sentiment. Currently, assets under management of digital asset managers have reached their highest level since August 2022 at $31.53 billion.
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Traditional Bitcoin funds have seen outflows of $24.8 million versus inflows of $10.9 million recorded a week ago. In total, $3.7 million has been invested in structures that allow opening short positions in BTC ($3.5 million was withdrawn in the previous reporting period).
With respect to altcoins, there have been mainly outflows. Ethereum-based products have seen outflows of $7.2 million, Cosmos outflows of $1.6 million, Polygon outflows of $0.8 million and Avalanche outflows of $0.5 million.