The amount of capital withdrawn from crypto funds has become known

James Butterfill, Head of Research at CoinShares, stated that over the past two weeks, the total outflow from cryptocurrency ETFs has reached $3.43 billion. Since October last year, the total assets under management in crypto funds have decreased by $73 billion, down to $165.8 billion.

A significant portion of the funds ($1.32 billion) was withdrawn from Bitcoin-related products, while Ethereum ETFs recorded a weekly outflow of $308 million. Funds tied to SOL and XRP cryptocurrencies also experienced losses, with outflows amounting to $31.7 million and $43.7 million respectively.

Last week, the leader in capital withdrawals was iShares ETFs from the largest investment company BlackRock, with a total of $1.2 billion. They were followed by funds from Grayscale and Fidelity, with outflows of $300 million and $197 million respectively. Meanwhile, ProFunds Group and Volatility Shares did not follow the general trend — on the contrary, they attracted $139 million and $61 million respectively, according to CoinShares data.

Butterfill explained investors’ behavior by expectations of the possible return of former U.S. Federal Reserve official Kevin Warsh to the position of Fed Chair. Increased political tensions around the world are also worrying investors, prompting them to withdraw funds from high-risk assets, the research director added.

Recently, analysts at CryptoQuant stated that due to Bitcoin’s decline, investments in cryptocurrency ETFs have become unprofitable: investors prefer to exit positions without profit rather than incur significant financial losses.

See also: "Ripple received a license to issue tokens in the European Union"

#Crypto Market #Capitalization

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