Crypto-related investment products saw their second consecutive week of outflows in April, with roughly $206 million leaving the market, per CoinShares‘ recent weekly report.
Despite Bitcoin’s recent halving, which typically generates excitement in the market, investor interest in the leading digital asset remained subdued, evidenced by outflows totaling $192 million.
Conversely, short-term investors seized the opportunity presented by the halving event to strengthen their positions, injecting $300,000 into the market.
What is fuelling the outflows?
During the past week, CryptoSlate reported that US-based Bitcoin (BTC) exchange-traded funds (ETFs) experienced five consecutive days of outflows. These outflows were primarily driven by Grayscale’s GBTC, ProShares BITO, and Ark 21 Shares’ ARKB.
James Butterfill, the Head of Research at CoinShares, elucidated that these outflows signify a dwindling interest among ETP/ETF investors. The trend stems from speculations that the Federal
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