Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.3 billion.
A Closer Look At The Outflows
The magnitude of these outflows at roughly $942 million is particularly notable, almost doubling the previous record of $500 million witnessed towards the end of January.
Major players in the asset management space, including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, felt the brunt of this wave of withdrawals, according to CoinShares.
The timing of these outflows coincided with a notable correction in the prices of underlying cryptocurrencies, which erased $10 billion from the fund’s assets under management (AUM). However, the combined AUM of $88 billion still hovers above prior cycle highs.
Notably, these outflows ha
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