CoinShares: Cryptocurrency products have seen net outflows of $424 million so far this week as investors shift to cheaper U.S. funds
According to James Butterfill, research director at CoinShares, as of the close of January 16, 2024, the net outflow of funds from cryptocurrency investment products this week has reached $424 million. This change reflects investors turning to more cost-effective US funds. Specifically, since the launch of spot-based ETFs, the Grayscale Bitcoin Trust (GBTC) has seen $1.18 billion in outflows, while this week the outflow for ProShares Bitcoin Strategy ETF (BITO) was $141 million. At the same time, the newly issued US spot Bitcoin ETF has attracted $2 billion in inflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Martingale bot upgraded–simpler setup, more flexible features
Stock Futures Rush (phase 9): Trade popular stock futures and share $240,000 in equivalent tokenized shares. Each user can get up to $5000 META.
CandyBomb x POWER: Trade to share 4,387,500 POWER
New users get a 100 USDT margin gift—Trade to earn up to 1888 USDT!
Trending news
MoreCrypto prices
More
