Cryptocurrencies show inflows after record outflows in previous two weeks

<iframe src=”//″ width=”250″ height=”250″ scrolling=”no” border=”0″ marginwidth=”0″ style=”border:none;” frameborder=”0″></iframe>

© Reuters. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic/File Photo/File Photo

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – Cryptocurrencies posted inflows last week after hitting record outflows the previous two, as investors took advantage of price declines in the market, data from digital currency manager CoinShares showed late Tuesday.

Inflows into crypto investment products and funds totaled $74 million last week. That followed record outflows of $151 million the previous two weeks, representing 0.3% of assets under management.

products continued to see outflows last week of about $4 million, CoinShares data showed. This brings the total outflow over the last three weeks to $246 million. For the year, however, bitcoin still showed inflows of $4.4 billion.

The world’s most popular currency rose 3% last week and was last up 3.8% at $38,104.

Ether, the second largest cryptocurrency in terms of market capitalization and the token used for the blockchain, showed inflows of $47 million, with total inflows totaling $973 million.

Its price was up 13% last week, but dropped 41% the week before.

Investment product flows also showed that altcoins, or the non-bitcoin, non-ether tokens, remained popular, with inflows into and Polkadot and .

Grayscale remains the largest digital currency manager at $33.6 billion, but their assets under management were down from $47.3 billion two weeks ago.

CoinShares, the second-biggest and largest European digital asset manager, oversaw about $3.9 billion in assets as of last week, down from about $6 billion two weeks ago.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


3 + 5 =