Bitcoin is trading around the $63,000 level on Monday as a CoinShares report reveals that crypto investment products recorded outflows totaling $147 million last week, breaking their three-week inflow streak.
Crypto assets witness outflows stirred by negative flows in Bitcoin ETFs
Crypto ETFs recorded outflows totaling $147 million last week, according to CoinShares’ weekly report. The outflows broke a three-week inflow streak of nearly $2 billion.
On the regional level, the US witnessed the highest share of outflows, amounting to $209 million. Germany and Hong Kong also recorded outflows totaling $8.3 million and $7.3 million, respectively.
On the contrary, Canada and Switzerland recorded inflows of $43 million and $35 million, respectively.
Among the asset classes, Bitcoin ETFs were the major focus among investors, with outflows totaling $159 million last week. Conversely, short-bitcoin ETFs witnessed inflows of $2.8 million.
While CoinShares noted that the high outflows were likely a result of the drop in the US Unemployment Rate in September, the Bureau Labor of Statistics only released the data on Friday, which was a positive day for Bitcoin ETFs<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is trading around the $63,000 level on Monday as a CoinShares report reveals that crypto investment products recorded outflows totaling $147 million last week, breaking their three-week inflow streak.Crypto assets witness outflows stirred by negative flows in Bitcoin ETFsCrypto ETFs recorded outflows totaling $147 million last week, according to CoinShares’ weekly report. The outflows …<\/p>\n","protected":false},"author":13,"featured_media":100563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,37,36],"tags":[9231,6903,6905,8595],"class_list":["post-106828","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-forex-markets","category-market-updates","tag-bitcoin-price","tag-cryptocurrencies","tag-ethereum","tag-labour-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=106828"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106828\/revisions"}],"predecessor-version":[{"id":106835,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106828\/revisions\/106835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/100563"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=106828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=106828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=106828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}