Crypto asset fund, net outflow for 6 consecutive weeks | coindesk JAPAN | Coindesk Japan

Cryptocurrency funds posted their sixth straight week of net outflows last week, despite rising Bitcoin (BTC) prices. According to a report published by CoinShares on the 20th, net outflows for the week ending March 17 were $95 million.

By asset, Bitcoin, Ethereum (ETH) and multi-asset funds saw net outflows, totaling $130 million. Bitcoin funds still dominated the negative sentiment, with a net outflow of $113 million.

Meanwhile, short bitcoin funds saw net inflows of $35 million. This meant that investors were investing in Bitcoin’s decline. Bitcoin has risen from a low of about $19,400 in early March to near $28,000.

According to CoinShares, the data as a whole may reflect investors’ need for liquidity.

“This sentiment is clearly contrarian compared to the rest of the cryptocurrency market. Part may be due to the need for liquidity during the current banking crisis. The situation was also seen in March 2020, when panic struck due to the spread of the new coronavirus infection.” (CoinShares)

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinShares
｜Original: Digital Asset Outflows Continue for 6th Week Despite Bitcoin Price Surge