Crypto investment funds recorded losses of $11.2 million last week. Over the recent seven weeks, withdrawals have summed up to $342 million. Still, when compared to the week prior—marked as the worst since March 2023 with an outflow of $168 million—the current situation appears less dire. Remarkably, since the onset of the year, crypto funds have seen a net inflow of $165 million.
Even with the moderate capital outflows, the total trading volume for the week spiked considerably. It stood at $2.8 billion, showing an impressive 90% increase year-to-date, based on a report by CoinShares. This report also gives insights into individual networks: Polygon and Ethereum witnessed losses of $8.6 million and $3.2 million, respectively, while Solana’s assets rose by $700,000.
On the geographic front, Germany saw the most substantial outflows with $26.9 million. In contrast, Switzerland led in capital inflows, recording $14.8 million.
James Butterfill, the Head of Research at CoinShares, highlighted that this year has been characterized by marked shifts in investor sentiment. Central to these shifts is the volatile nature of expectations and apprehensions concerning cryptocurrency regulation.
