The outflow of funds from crypto funds amounted to almost $16 million

• CoinShares released its weekly report on the flow of funds in cryptocurrency investment products.
• During the past week, there was a capital outflow of $15.8 million.
• Experts believe that this is primarily due to profit-taking rather than a shift in sentiment towards cryptocurrencies.

In their latest report, CoinShares presented data on the financial flows into cryptocurrency-based investment products for the week of December 9 to December 16. The report indicates that there was a total outflow of $15.8 million. This follows eleven consecutive weeks of positive trends.

According to the report, the outflows are likely driven by profit-taking rather than a significant change in investor sentiment towards cryptocurrencies. Additionally, trading activity remains consistently high, surpassing the annual average with a total of $3.6 billion for the week.

. Source: CoinShares.” class=”wp-image-190287″ srcset=”https://incrypted.com/wp-content/uploads/2023/12/image-63.png 542w, https://incrypted.com/wp-content/uploads/2023/12/image-63-300×209.png 300w” sizes=”(max-width: 542px) 100vw, 542px”>Inflow and outflow of capital into crypto funds depending on the asset. Source: CoinShares

According to CoinShares, Bitcoin-based instruments experienced an outflow of $32.8 million, while Ethereum saw an outflow of $4.3 million. On the other hand, Solana blockchain-related products received an inflow of $10.6 million.

In terms of regional distribution, the United States recorded the largest outflows with $18.3 million, followed by Germany with $9.7 million. In contrast, inflows were observed in countries such as Canada, Switzerland, France, Australia, and Brazil.

It is worth noting that during the period of December 9 to December 16, a total of 33 projects attracted investments amounting to $323.49 million.