Sharing data from the week of April 13th to April 19th, CoinShares disclosed a net outflow of $206 million from BTC-ETFs and similar funds. Among the hardest-hit players, Grayscale Investments experienced a staggering $450 million loss over the course of two weeks, while ProShares products witnessed a significant capital outflow of $134 million.
In contrast, crypto funds managed by BlackRock yielded positive returns, accumulating a net inflow of $165 million during the previous week. Fidelity Investments also reaped profits with a capital influx of $94 million.
According to CoinShares specialists, Bitcoin-based exchange-traded products accounted for the majority of asset outflows ($192 million), followed by Ether-based products ($34 million).
In terms of capital outflow by country, the United States topped the list with a staggering $244 million, representing the only jurisdiction where BTC-ETFs are functional. Germany followed suit with a loss of $8.3 million.
Conversely, several countries experienced an influx of funds into cryptocurrency funds during the same week. Canada emerged as the leader with $29.9 million, closely trailed by Brazil with $5.5 million and Australia with $2.2 million.
Looking ahead, CoinShares experts anticipate the emergence of investment projects focused on the development of Bitcoin-based stablecoins by 2024.