CoinShares: Weekly capital outflow from crypto funds reached $206 million

CoinShares analysts have released a unique report analyzing the flow of funds in investment and exchange-traded cryptocurrency funds. In an unexpected turn, negative trends of capital outflow have persisted for the second consecutive week.

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.