$500 million has been withdrawn from investment crypto products in one week

$2,2 billion has been withdrawn from Grayscale investment company products

29.01.2024 - 15:30

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2 min

What’s new? The outflow of funds from investment products based on digital assets amounted to $500 million during the week. Specifically, $2,2 billion has been withdrawn from Grayscale’s crypto derivatives alone. At the same time, new US spot exchange-traded funds (ETFs) based on bitcoin show a positive result: +$1,8 billion. And since their admission to the market on January 11, the total inflow amounted to $5,94 billion, according to analysts of the investment company CoinShares.

CoinShares’ report

What else is known? Regionally, the weekly outflow was spread across the US, Switzerland, and Germany, with $409 million, $60 million, and $32 million, respectively. Most of the outflows came from bitcoin products: $497 million, while short positions in the asset recorded an inflow of $10,6 million.

Investors also withdrew funds from derivatives based on the largest altcoins, with Ethereum (ETH), Polkadot (DOT), and Chainlink (LINK) being the most notable: $39 million, $0,7 million, and $0,6 million, respectively.

At the same time, $17 million was invested in shares of blockchain companies.

CFTC chair says risks of launching spot BTC ETFs in the absence of crypto regulation

According to Rostin Behnam, officials still have no mechanisms in place to ensure customer protection

Earlier, Matrixport experts said that the interest of the traditional finance sector in spot BTC ETFs “was not as strong as initially expected,” and investors in Grayscale’s GBTC fund continue to take profits.

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