The weekly report of CoinShares, Europe’s largest crypto fund investment company, has been published. According to the report shared by James Butterfill, research assistant of the company, crypto funds have reached a total investment of 13.8 billion dollars since the beginning of the year and broke their own record.
“Short Bitcoin” funds continue to melt
The funds saw net investments of $646 million on a weekly basis. While the net figure for Bitcoin was 663 million dollars, there was an outflow of 22 million dollars for Ethereum. “Short Bitcoin” funds, which invested in Bitcoin’s decline, closed the week with a loss of $9.5 million. Thus, “Short Bitcoin” funds closed the last 3 weeks with losses.
Volumes are falling: “There is a decrease in overall demand”
James Butterfill, research associate at CoinShares, stated that there has been a decrease in the general appetite of investors and said, “Volumes have dropped significantly compared to March. The weekly volume, which was 43 billion dollars in the first week of March, dropped to 17.4 billion dollars last week. “This indicates a decrease in the level of desire and hunger,” he said.
Filecoin detail…
On the other hand, many altcoin funds also saw inflows and completed the week positively. While Litecoin was at the top in this sense with 4.4 million dollars, Solana funds received 4 million dollars and Polkadot funds received 600 thousand dollars of investment. The investment in the funds of Filecoin (FIL), a data storage project, was a net of 1.4 million dollars.
While US-based ETFs saw net investments of $648 million, Switzerland finished the week in minus with outflows of $27 million.
It was published:
Last update:
Source: https://uzmancoin.com/kripto-fon-coinshares-bitcoin-filecoin/
