Crypto Funds Suffer Fifth Consecutive Week of Outflows
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May 23, 2023

According to CoinShares analysts, fund outflows from cryptocurrency-based investment products between May 6 and May 12 amounted to $32.1 million, down from $53.8 million the previous week.

Over the past five weeks, outflows have reached $232 million, equivalent to 0.7% of assets under management.

$32.7 million have been withdrawn from Bitcoin products ($37.5 million a week earlier).

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Ethereum funds have recorded an outflow of $1 million, while a week earlier there was an inflow of $0.1 million.

Positive dynamics have prevailed in other altcoins. Avalanche and Litecoin-based products have raised $0.7 million and $0.3 million, respectively.

Robert Kiyosaki, entrepreneur and author of Rich Dad, Poor Dad, has recently advised sticking to "defensive positions" in the form of gold, silver and Bitcoin amid a potential banking collapse.

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